3.27.2012

U.S. consumer confidence declined in March

A gauge of U.S. consumer confidence declined in March due to lower
employment expectations, while views on the present situation rose to
the highest level since 2008, the Conference Board reported Tuesday.
The consumer-confidence gauge fell to 70.2 in March from a February
reading of 71.6.

"The moderate decline was due solely to a less favorable short-term
outlook," and data suggest "consumers feel the economy is not losing
momentum," said Lynn Franco, director of the Conference Board's
consumer research center.

Generally when the economy is growing at a good pace, confidence
readings are at least 90.

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