Consumers turned negative in March even as their expectations for inflation improved, according to the latest monthly survey from the University of Michigan. The university’s overall consumer sentiment index fell to 63.4 from 67 a month earlier, a 5.4% decline, while the expectations index dipped to 61.5 from 64.7, a 6.1% drop. However, expectations for inflation a year from now fell to 3.8% from February’s 4.1%. “Sentiment declines were concentrated among lower-income, less-educated, and younger consumers, as well as consumers with the top tercile of stock holdings,” Joanne Hsu, survey director, said in a statement. ... (full story)