News
Consumer Confidence Hits Four-Month Low
Another day, another round of disappointing news for the retail sector. Consumer confidence this March has fallen to a four-month low, declining to 91.2 from 95.4 in February according to a University of Michigan survey released today. A Bloomberg poll of economists had forecast a sunnier 95.5 index. The usual twin factors of sluggish wage growth and heinous winter weather helped explain the dip. But a modest rebound in gas prices from January's six-year nadir popped up as a new cause for concern. Yesterday, the Commerce Department announced the retail sales in February fell 0.6%. [Bloomberg]
