UMich: U.S. Consumer Sentiment Hits 2026 Low on Iran War


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- U.S. consumer sentiment has fallen to a 2026 low as 
concerns over the impact of the Iran weighs on the U.S. economic outlook, an 
early March reading from the University of Michigan (UMich) said Friday (3/13).

   "Consumer sentiment dipped about 2%, reaching its lowest reading of the 
year," Joanne Hsu, UMich's director for its surveyors of consumers, said in a 
statement.

   Hsu noted that interviews with consumers carried out by UMich prior to the 
start of the U.S. military campaign in Iran on February 27 had shown an 
improvement in sentiment from the previous month.

   But lower readings in the nine days since "completely erased those initial 
gains", she added.

   Gasoline prices had exerted the most immediate impact felt by consumers in 
early March, UMich said.

   The retail price of gasoline at U.S. pumps rose 43.3cts during the week 
ended March 9 to reach an average of $3.502 gallon. For the year, it was up 
48.7cts gallon.

   In its Friday statement, UMich showed its Index of Consumer Sentiment at 
55.5 for March, versus the 56.6 and the 57 readings for February and a year 
ago, respectively.




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