The University of Michigan index rose above expectations to 84.9 points, against 76.8 points in February.
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U.S. consumer confidence improved significantly in March, and more than expected, reaching its highest level in a year thanks to government checks paid to millions of Americans, according to the final estimate from the University of Michigan released Friday.
The index rose to 84.9 points, against 76.8 points in February. This is better than expected by analysts (83.6 points).
In addition to the financial boost from the Biden administration, the COVID-19 vaccination campaign, which is in full swing in the United States, is making households more optimistic.
In March, the components measuring the appreciation of the current economic situation and expectations thus improved significantly, to 93 points respectively against 86.2 and 79.7 points against 70.7.
Two weeks ago, Congress approved a vast bailout plan for the $ 1.9 trillion economy.
And, in the process, the Biden administration began handing out checks for $ 1,400 to millions of people.
On Wednesday, the U.S. Treasury Department reported that the tax services had disbursed some 37 million additional payments, bringing the total payments disbursed under the American Rescue Plan to about 127 million payments, worth some $ 325 billion.
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