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.