Consumer sentiment in March hits highest level since 2004

U.S. consumer sentiment slipped slightly at the end of March, after shooting up in the mid-month preliminary report, but still recorded its highest level since 2004.

The University of Michigan’s report showed consumer attitudes about the economy inched down to a reading of 101.4 at the end of March. Reuters economists expected the reading to remain at 102, the same as mid-March, when the index shot up from 99.7 at the end of February.

The index dipped slightly lower at the end of March due to uncertainty about the impact of the proposed trade tariffs, according to the report. Concerns over trade policies offset positive reactions to recent tax reform legislation.