US consumer confidence at five-month low
New York, March 12 : US consumers’ confidence about their financial prospects and the course of the economy is at the lowest level in five months, according to a report released Friday.
The Thomson Reuters/University of Michigan preliminary index of consumer sentiment for March dipped to 68.2 points from February’s 77.5.
March’s figure is the lowest since last October and also represents the biggest month-to-month decline since October 2008, at the beginning of the global financial crisis.
Most analysts had expected a much smaller drop, to around 76.3 points, based on recent encouraging data about jobs.