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U.S. consumer sentiment dropping slightly

Xinhua, April 2, 2016 Adjust font size:

U.S. consumer sentiment in March was dragged down slightly by weaker economic outlook compared with the level in February.

The final reading of the consumer sentiment for March fell to 91 from 91.7 in February, the Thomson Reuters/University of Michigan index of consumer sentiment showed Friday.

"Consumers anticipated that the slower pace of economic growth will more than likely put an end to further declines in the unemployment," said survey director Richard Curtin.

The overall level of confidence, however, remained stable, as the index in the first quarter of 2016 averaged 91.6, almost the same as the level in the third and fourth quarters of 2015.

The sub-index of the current conditions, reflecting Americans' perceptions of their financial situation and whether they consider it a good time to buy big-ticket items like cars, fell to 105.6 in March from 106.8 in February.

The sub-index gauging consumer expectations for six months from now, which more closely projects the direction of consumer spending, slid to 81.5 from 81.9 in February. Endit