Consumer Confidence Dropped in March
U.S. consumer confidence fell to 63.4 from February's 72, the Conference Board said Wednesday. The drop was attributed mostly to rising gas and food price.
The February number represented a three-month high.
“The sharp decline in confidence was prompted by a sharp decline in expectations," the Conference Board's Lynn Franco said. "Consumers’ inflation expectations rose significantly in March and their income expectations soured, a combination that will likely impact spending decisions."