Fittest loser
Article updated: 3/26/2013 9:40 AM

Consumer confidence falls in March

Shoppers look at clothing on sale at the Footloose store in Mt. Lebanon, Pa. The Conference Board, a New York-based private research group, said its reading of consumer confidence fell in March after rebounding last month.

Shoppers look at clothing on sale at the Footloose store in Mt. Lebanon, Pa. The Conference Board, a New York-based private research group, said its reading of consumer confidence fell in March after rebounding last month.

 

Associated Press

 1 of 1 
 
text size: AAA
By Associated Press

WASHINGTON -- Americans are less confident in the economy than they were last month as massive government spending cuts have stoked economic uncertainty.

The Conference Board, a New York-based private research group, said its reading of confidence fell in March after rebounding last month.

Advertisement

The index is closely watched by economists because it makes a monthly gauge of how Americans are feeling about their jobs, incomes and other bread-and-butter issues. That's important because consumer spending accounts for 70 percent of U.S. economic activity.

The March confidence index fell to 59.7 from a revised reading of 68 in February. That's also below the 68.7 reading that analysts polled by research firm FactSet expected.

Anxiety about $85 billion in across-the-board government spending cuts that took effect March 1 caused the decline, the group says.

Comments ()
We are now using Facebook comments to offer a more inclusive, social and constructive discussion. Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.

This article filed under

Business Video
Area Business Calendar

BusinessDirectory

Connect with a business or service in your area fast. First select a town, then enter a search term or choose one of the listed popular searches:

Don't see your town listed? Visit our full directory to begin your search.

MostViewed

Today
Yesterday
Most Commented
Top Jobs

    View all Top Jobs Place a job ad

    DHExtras

       
    • Newspaper next section - Newspaper next section Report card checker - report card checker
    • Dh innovation award 2 - Dh innovation award 2 Zillow /real estate page
    • Discuss refer On Guard series
    • Newspaper archives -- Monday or anyday Mike North

    FacebookActivity