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UMich: Consumer Sentiment Slides for Fourth Month
April 4,
2016 by in Economic News, Industry 
Consumer sentiment slid to a reading of 91 in March, down 0.7 from February’s reading, according to the University of Michigan’s consumer sentiment survey.
The index remains well above its low in 2011 when it dropped to 55.8.
“Consumers widely anticipated that gasoline prices will slowly increase in the year ahead, and anticipated that the slower pace of economic growth will more than likely put an end to further declines in the unemployment rate,” said Richard Curtin, Surveys of Consumers chief economist. “What is surprising is that the expectation of higher prices and higher unemployment have not caused an increase in uncertainty about personal financial prospects. To be sure, the positive outlook for consumer spending is contingent on the view held by most consumers that the jobless rate will be maintained close to its very low current level and that gas prices will increase only modestly above their recent lows.”