Consumer Confidence Declines

Consumer confidence decreased this month, according to the Thomson Reuters/University of Michigan consumer sentiment index released Friday.

The March preliminary index declined to a reading of 74.3, from 75.3 in February.

The reading was lower than economists’ median forecast of a 76 reading, Bloomberg reported.

The index averaged a reading of 89 in the five years leading up to the recession at the end of 2007.