Consumer Confidence Falls in March

Washington, DC, March 29, 2011 -- Consumer confidence in March fell the most in over a year on worries about rising food and gas prices, international events, and stagnant incomes, according to the Conference Board.

The board's index dropped to 63.4 in March from a revised 72.0 in February.

Economists expected the index to decline to 62.2 from February's initially reported level of 70.4.

Lynn Franco, an economist with the Conference Board, said the decline in consumer confidence will probably affect spending decisions.

The cutoff date for the consumer confidence survey was March 16.