02:32 PM EDT, 03/13/2026 (MT Newswires) -- The preliminary Michigan Sentiment index fell to 55.5 in March from 56.6 in February.

According to Michigan, consumers' assessment of current conditions improved in March, while the near-term outlook deteriorated. Michigan said that one-year inflation expectations remained at 3.4% while five-year expectations slowed to 3.2% from 3.3%.

The second estimate of Q4 GDP showed a 0.7% gain, revised down from a 1.4% gain in the advance estimate. Personal spending is now reported up 2.0% after a 2.4% increase in the advance estimate.

There were also downward revisions to nonresidential fixed investment, government spending and net exports that were offset by upward adjustments to residential fixed investment and private inventories.

The GDP price index was revised up to a 3.8% increase from the previous estimate of a 3.6% gain, while overall PCE and core PCE price measures were unrevised.

Personal income was up 0.4% in January, lifted by a 0.5% gain in wage and salaries.

Transfer payments rose further and return on assets surged, but rental income was flat and proprietors' income declined.

Personal consumption expenditures rose by 0.4% in January, the same as in the previous month, while real PCE rose by 0.1% for the third straight month.

The PCE price index increased by 0.3% after a 0.4% gain in the previous month, but the year-over-year rate slowed to 2.8% from 2.9%. Core PCE prices rose by 0.4% for another month in January, lifting the year-over-year rate to 3.1% from 3.0%.

Durable goods new orders held steady in January, while shipments rose by 0.6%. Excluding transportation, new orders and shipments were both up 0.4%.

January job openings data showed an improvement in the number of jobs available, while hiring rose only modestly and the number of quits and layoffs declined.

The Q1 GDPnow estimate from the St. Louis Fed is for a 2.05% gain, up from a 2.50% increase in the previous week.

The Atlanta Federal Reserve's GDP nowcast estimate for Q1 growth was unrevised from a 2.7% gain in the previous estimate. The next update is scheduled for March 19.