Consumer sentiment fell for a third consecutive month in March, the University of Michigan Surveys of Consumers reported Friday.

In the latest sign that Americans are unhappy with the direction of the U.S. economy, sentiment fell 11% among all ages, education levels, incomes, wealth levels, political affiliations and geographic regions. 

“While current economic conditions were little changed, expectations for the future deteriorated across multiple facets of the economy,” the report said. 

Not only are people feeling less positive about their personal finances, their attitudes also declined toward labor markets, inflation, business conditions and stock markets.

Americans' long-term inflation expectations saw their largest month-over-month increase since 1993 in March. They now believe inflation will be 4.9% a year from now — up from an expectation of 4.3% last month. In the long run, they now believe inflation will be 3.9% — up from an expectation of 3.5% in February. 

The survey said many consumers cited high uncertainty around economic policies, making it difficult for them to plan for the future. This week, President Donald Trump imposed a 25% tariff on steel and aluminum imports, inspiring retaliatory tariffs from Canada and the European Union. He plans to enact reciprocal tariffs on all countries April 2.

Republicans, Democrats and independents all said the country’s economic outlook has worsened since February. Democrats’ sentiment declined the most (24%), followed by independents (12%) and Republicans (10%).