Michigan Consumer Sentiment Lower Than Expected in March, UK GDP in January Surprises Analysts

The University of Michigan survey showed that the consumer sentiment index fell to 59.7 in March, down from 62.8 in February.

Analysts had previously forecast a sentiment index of 61.4 for March.

Sentiment data were weighed down by increasing inflation concerns following the rise in oil prices.

The U.S. Consumer Sentiment Index is a survey of consumer sentiment about the economy, including personal finances, inflation, unemployment, interest rates, and government policy.

In the United Kingdom, GDP rose more strongly than expected in January.

The U.K. Office for National Statistics (ONS) announced today that gross domestic product (GDP) rose more than expected in January.

According to the ONS, UK GDP grew by 0.8% month-on-month in January after falling by 0.2% in December.

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