After a February improvement, the Conference Board Consumer Confidence Index was down in March 2013. The index was 68.0 in February, but fell in March to 59.7.
The Present Situation Index component of the index was down from 61.4 in February to 57.9 in March. The Expectations Index component was down from 72.4 to 60.9.
"This month's retreat was driven primarily by a sharp decline in expectations, although consumers were also more pessimistic in their assessment of current conditions," said Lynn Franco, Director of Economic Indicators at The Conference Board. "The loss of confidence, particularly expectations, mirrors the losses experienced this past December and January. The recent sequester has created uncertainty regarding the economic outlook and as a result, consumers are less confident."
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