Consumer Sentiment Lowest in 16 Years

Ann Arbor, MI, March 14, 2008—Consumer sentiment fell in March, but not as much as expected.

The University of Michigan/Reuters consumer sentiment index fell to 70.5 in March from 70.8 in February, Economists had expected a reading of 69.

Yet, it’s the lowest in 16 years.

The current conditions index rose to 84.6 from 83.8. The expectations index fell to 61.4 from 62.4, also the lowest since early 1992.