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Survey data released by the University of Michigan on March 27 showed that due to rising fuel prices and financial market fluctuations, the U.S. consumer confidence index fell sharply by 6% in March, the lowest level since December 2025. The ongoing war in Iran is worsening the situation.
Survey data shows that the final value of the U.S. consumer confidence index in March was 53.3, which was lower than the final value of 56.6 in February and lower than the final value of 57.0 in March last year.
The final value of the current economic conditions index released by the University of Michigan in March was 55.8, which was lower than the final value of 56.6 in February and lower than the final value of 63.8 in March last year. The final value of the consumer expectations index was 51.7, which was lower than the final value of 56.6 in February month-on-month and lower than the final value of 52.6 in March last year.
The survey shows that compared with February data, consumers' expectations for fuel prices in the next year have surged about five times, reaching the highest level since June 2022; while expectations for personal financial conditions in the next year have dropped by 10%. 47% of consumers said that rising prices have placed a heavy burden on their personal finances.
With expectations for the short-term economic outlook plunging 14%, some 61% of consumers expect unemployment to rise in the next year, up from 58% in February.
The survey showed that inflation expectations for the next year climbed to 3.8% in March from 3.4% in February, the largest monthly increase since April 2025.
The University of Michigan specifically mentioned that the investigation and interviews were conducted from February 17 to March 23, and about two-thirds were completed after the United States and Israel launched a large-scale military operation against Iran on February 28.
