2018.03.2910:13:00UTC+00U.S. Consumer Sentiment Improves Slightly Less Than Initially Estimated In March

Consumer sentiment in the U.S. improved by slightly less than initially estimated in the month of March, according to a report released by the University of Michigan on Thursday.

The report said the consumer sentiment index for March was downwardly revised to 101.4 from the preliminary reading of 102.0. Economists had expected the index to be unrevised.

Despite the downward revision, the consumer sentiment index for March was still up from the final February reading of 99.7.

"Consumer sentiment at month's end was marginally below the mid-month reading due to uncertainty about the impact of the proposed trade tariffs," said Richard Curtin, the survey's chief economist.

He added, "The Sentiment Index, however, still reached the highest level since 2004, and the Current Conditions Index set a new all-time peak."

The report said the current economic conditions index jumped to 121.2 in March from 114.9 in February, while the index of consumer expectations edged down to 88.8 from 90.0.

On the inflation front, one-year inflation expectations ticked up to 2.8 percent in March from 2.7 percent in February, while five-year inflation expectations held at 2.5 percent.