FX.co ★ US consumer sentiment below expectations in March

The University of Michigan Consumer Sentiment index rose to 96.9 in March from 96.3 in February.

The current conditions index rose to 113.2 from the February reading of 111.5, hitting the highest level since July 2005. The expectations index was 86.5, unchanged from the February reading.

The one-year inflation expectations index came in at 2.5%, down from the February figure of 2.7%. The five-year inflation gauge was 2.4% from 2.5% in February.

The indicator averaged 64.2 during the latest recession that started in December 2007 and lasted for 18 months. The average score during the five years before the recession was 89.

Meanwhile, a reading of Chicago-area economic activity nudged higher in March and topped analysts’ expectations. The ISM Manufacturing Index rose to 57.7, up from the February figure of 57.4 and the projected score of 56.9.