US Consumer Sentiment Slips in March to Five-Month Low

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Source:   —  April 01, 2016, at 6:42 PM

S. consumer sentiment slipped latest mo to lowest level since Oct with Americans worried about the country'south economic outlook, the Univ of MI said Friday.

U. S. consumer sentiment slipped latest mo to lowest level since Oct with Americans worried about the country'south economic outlook, the Univ of MI said Friday.

The university'south index of consumer sentiment dipped to ninety-one in March, from 91.7 in February. Richard Curtin, chief economist of the MI surveys, said consumers' dim view of the economy offset improvement in their own finances. Latest month'south reading was the lowest since the index registered ninety in October. A year earlier, it stood at 93.

Signs of economic weakness and rising gasoline prices have taken a toll on spirits.

AAA says the average gal of U. S. gasoline costs $2.06, a seventeen % hike from the $one.76 they were paying a month ago.

Americans have grown cautious about spending. Consumer spending ticked up just 0.1 % in February, same as in December and January.

Still, the work market is healthy. The government reported Friday that employers added 215.000 jobs in March. The unemployment rate rose to five % from 4.9 % in Feb but only because so many Americans came off the sidelines and started looking for work.

The economy grew at a lackluster 1.4 % annual pace from Oct through December and might be even worse the first three months of two thousand sixteen: Citing feeble consumer spending, many economists have slice their first-quarter forecast below 1 percent.

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