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Consumer Sentiment in U.S. Unexpectedly Falls on Outlook

Bloomberg (03/14/14) Katherine Peralta

Consumer confidence unexpectedly fell in March to a four-month low. The Thomson Reuters and University of Michigan preliminary index of sentiment declined to 79.9 this month from 81.6 in February. A Bloomberg survey of economists had forecast an increase to 82. Although fewer job cuts and higher home prices helped prop up consumer sentiment somewhat, consumers also indicated that bigger payroll gains that lead to faster wage growth will be needed for them to boost spending.