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US consumer sentiment falls to lowest level in more than 3 years

March 27, 2020

Via: CNBC

U.S. consumer sentiment fell to a three-year low as the coronavirus outbreak takes a toll on the economy, according to data from the University of Michigan released Friday.

The index of consumer sentiment dropped to 89.1 in March — its lowest level since October 2016 — from 101 in February. Economists polled by Dow Jones expected a fall to 90.

March’s decline in sentiment was the fourth-largest in nearly 50 years, according to Richard Curtin, chief economist for the Surveys of Consumers.

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