02:46 PM EDT, 03/14/2025 (MT Newswires) -- The preliminary Michigan Sentiment index fell to 57.9 in March from 64.7 in February, with declines in both current conditions and consumer expectations.

Consumers noted increased uncertainty about economic policies, particularly frequent changes that make future planning difficult. There is general agreement across the political spectrum that the economic outlook has deteriorated from February.

Michigan said that one-year inflation expectations surged to 4.9% in March from 4.3% in February, reaching the highest level since November 2022. Five-year inflation expectations increased to 3.9% from 3.5%, the largest monthly increase since 1993 according to Michigan.

The St. Louis Fed's GDP nowcast estimate for Q1 is for a 2.33% gain, revised down from a 2.49% increase reported in the previous week.