US consumer confidence falls in March

| March 30, 2011 | 0 Comments

US consumer confidence fell in March after higher energy prices fuelled fears of inflation and consumers were hit by falling income expectations.

The reading from the closely-monitored Consumer Confidence Index from the Conference Board dived to 63.4 in March from February’s three-year high of 72.0.

The reading was below expectations of a fall to 65.0 and remains far away from the 90 points required to show that the world’s largest economy is on solid footing.

Since the index commenced in 1967, the average reading has been 95.6.

Meanwhile, the Present Situation Index picked up pace to 36.9 from 33.8, while the Expectations Index fell to 81.1 in March from February’s 97.5.

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