Skip to comments.Consumer Sentiment Dips in March
Posted on 03/14/2014 7:32:35 AM PDT by mykroarEdited on 03/14/2014 8:33:35 AM PDT by Admin Moderator. [history]
Consumer sentiment dipped modestly in early March, entirely due to reduced expectations for the future, a survey said on Friday.
The preliminary Thomson Reuters/University of Michigan overall index of consumer sentiment fell to 79.9 in March, down from the 81.6 final reading in February. That was below analyst expectations for a reading of 82 and the lowest level for that index since November.
(Excerpt) Read more at foxbusiness.com ...
More businesses closing in my area every day. And I live in a large metropolitan area in a conservative state.
1. Colder than normal winter, and prospect for winter to continue well into April has caused people to spend way more on energy while stopping cold a lot of spending the change in weather would bring.
2. Gas prices are on the path to break $4 by the middle of April, and could go higher if the crisis in Ukraine and cold weather continues.
3. New regulations and taxes from Washington and in many liberal states are causing further strangleholds on business development and the amount of money employees take home. This is not just obamacare, but other new taxes and rules, including in the State of California and New York.
Looks like we've got some unexpected deflation today too:
Deflation and falling sentiment, bad omens.