Friday, March 25, 2011

Consumer Sentiment declines in March

by Bill McBride on 3/25/2011 09:55:00 AM

The final March Reuters / University of Michigan consumer sentiment index declined to 67.5 from the preliminary March reading of 68.2 - and down from 77.5 in February. This is the lowest level since November 2009.

Consumer Sentiment Click on graph for larger image in graphic gallery.

This was below the consensus forecast of 68.0.

In general consumer sentiment is a coincident indicator and is usually impacted by employment (and the unemployment rate) and gasoline prices.

With higher gasoline prices and the scary world news, a low reading isn't that surprising.