Consumer confidence plunges in March
Consumer confidence sank to a five-year low in March as tight credit markets, rising prices and worsening job prospects deepened worries that the economy has fallen into recession.The Conference Board, a business-backed research group, said Tuesday that its Consumer Confidence Index plunged to 64.5 in March from a revised 76.4 in February.
A monthly poll shows consumers' confidence took a surprisingly sharp fall in February amid rising job worries.