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University of Michigan Consumer Sentiment Index Up in March

03/17/2021

The University of Michigan Consumer Sentiment Index rose from 76.8 in February to 83.0 in mid-March.  According to Richard Curtin, Chief Economist of the University of Michigan Surveys of Consumers, gains were widespread across all income groups and regions of the U.S.  Understandably gains in sentiment rose higher among the bottom third of wage earners and among the elderly.  Dr. Curtin noted, "overall the data indicates strong growth in consumer spending during the year ahead with largest percentage gains for services including travel and restaurants".  Reopening of the economy and especially restaurants, schools, universities and increased travel will benefit the poultry industry with increased consumption of chicken and eggs.