U.S.consumer sentiment unexpectedly rises in March

U.S. consumer confidence unexpectedly rose in March from the previous month as federal government spending cuts came into force on March 1, the Thomson Reuters/ University of Michigan index of consumer sentiment revealed on Friday. 

The final reading of the consumer sentiment edged up to a four- month high of 78.6 in March from 77.6 in the previous month. The preliminary reading in the first half of March was 71.Cursher8, the lowest level since December 2011. 

The index gauging consumer expectations for six months from now, which more closely projects the direction of consumer spending, climbed to 70.8 in March from 70.2 in February, while the preliminary reading was 61.wheel balancer7, the lowest since November 2011. 

The index of current conditions, reflecting Americans' perceptions of their financial situation and whether they consider it a good time to buy big-ticket items like cars,prepregrose to 90.7 in March from 89 a month ago, also better than the preliminary reading of 87.5. 

The index averaged 64.2 during the last recession from December 2007 to June 2009, and 89 in the five years leading up to the recession. post lift

Analysts said that the rising stock market,knives wholesaler a strengthening recovery in housing and a reviving jobs market helped alleviate concerns about federal government spending cuts and boost consumer confidence.