Here comes consumer confidence...

The latest read on consumer confidence from the University of Michigan will be out at 10 a.m. ET.

Economists forecast that the UMich consumer sentiment index will clock in at 97.6 for the final March survey.

Earlier this month, the preliminary report showed that the index rose to 97.6 from February’s final reading of 96.3.

Various measures of consumer confidence have jumped since the US presidential election in November.

However, details beneath the headline indices show that Americans are deeply divided about the new administration and the country’s economic future.

“Importantly, there was no moderation in these extreme views from last month, with the maintenance of the partisan divide fuelled by selective attention to economic news, with Democrats more frequently reporting unfavorable developments and Republicans more frequently hearing of favourable changes,” said Richard Curtin, the survey’s chief economist, after the preliminary reading crossed in March.

“Optimism promotes discretionary spending, and uncertainty makes consumers more cautious spenders,” he added. “This combination will result in uneven spending gains over time and across products.”

Refresh this page for updates at 10 a.m. ET.

NOW WATCH: 7 mega-billionaires who made a fortune last year

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.