Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  26.3.2013 16:30:06

U.S. - Consumer Confidence in March fell much more than expected


U.S. consumer confidence index according to local Confence Board in March fell to 59.7 points compared to February's 68 points. Market included only a small correction towards 67.5 points in the overall range of estimates from 60 to 72 points.
Consumer confidence apparently continues to hamper the flight primarily a decrease in government spending, which dampens the effect of different growing economy. A negative impact also the unresolved question of the form of the state budget and government automatic cuts resulting therefrom.

Partial current conditions index fell from 61.4 in February to 57.9 points. Index expectations for the next six months decreased from 72 to 60.9 points.

The share of respondents expecting a better general conditions in the next 6 months dropped from 18 in February to 14.4%, the lowest since November 2011.
The proportion of respondents expecting plenty of job opportunities decreased from 16.1 to 12.3%, the lowest since October 2011.
The proportion of respondents expecting a rise in their incomes declined from 15.8 in February to 13.7%.

Price of gasoline in March, down from $ 3.79 per gallon in late February for about $ 3.67 per gallon.

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