Consumer sentiment rises in March
Posted: Fri Mar 29, 2013 3:15 pmConsumer sentiment rises in March
WASHINGTON (MarketWatch) -- The University of Michigan-Thomson Reuters consumer-sentiment gauge rose to a final March reading of 78.6 -- the highest level since November -- from a final February reading of 77.6, reports said Friday. Economists polled by MarketWatch had expected a final March reading of 73, with concerns about the government's economic policies taking a toll. A preliminary March reading pegged the level at 71.8. While stock prices have been rising, consumers also faced worrisome news over the large federal spending cuts making up the sequester. The sentiment gauge, which covers how consumers view their personal finances as well as business and buying conditions, averaged about 87 in the year before the start of the most recent recession. Economists watch sentiment data to get a feel for the direction of consumer spending. Elsewhere Friday, the government reported that consumer spending rose in February.
WASHINGTON (MarketWatch) -- The University of Michigan-Thomson Reuters consumer-sentiment gauge rose to a final March reading of 78.6 -- the highest level since November -- from a final February reading of 77.6, reports said Friday. Economists polled by MarketWatch had expected a final March reading of 73, with concerns about the government's economic policies taking a toll. A preliminary March reading pegged the level at 71.8. While stock prices have been rising, consumers also faced worrisome news over the large federal spending cuts making up the sequester. The sentiment gauge, which covers how consumers view their personal finances as well as business and buying conditions, averaged about 87 in the year before the start of the most recent recession. Economists watch sentiment data to get a feel for the direction of consumer spending. Elsewhere Friday, the government reported that consumer spending rose in February.