Sunday, March 17, 2013

U.S. consumer confidence plunges to 15-month low in March

U.S. consumer confidence unexpectedly plunged to a 15-month low in March, the Thomson Reuters/University of Michigan index of consumer sentiment revealed on Friday. 

The preliminary reading of the consumer sentiment, which records the figure for the first half of a month, edged down to 71. 8 in March from 77.6 in the previous month. This is the lowest level since December 2011 and far below economists' expectation of 77.5. 

The index gauging consumer expectations for six months from now, which more closely projects the direction of consumer spending,How efficient and environmentally friendly processing prepreg production is important part of the mobile artificial aggregate processing system will be greatly reduced as the traditional manual excavation of sand and gravel processing system. also fell to 61.7 in March from 70.2 in February. It is the lowest reading since November 2011. 

The index of current conditions, reflecting Americans' perceptions of their financial situation and whether they consider it a good time to buy big-ticket items like cars, dropped to 87.Vintage tubsAuto Accessories wholesalers5 in March from 89 a month ago. 

The index averaged 64.2 during the last recession from December 2007 to June 2009, and 89 in the five years leading up to the recession. 

Analysts said that the substantial decline in the consumer confidence was a result of increatyre equipmentssing gasoline prices, higher payroll tax and the effects of 85 billion U.S. dollars of federal spending cuts starting on March 1.Antique bath fixtures

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