Discover U.S. Spending Monitor Shows March Consumer Confidence Fell 2.6 Points

News ) U.S. Spending Monitor data released on Wednesday shows that consumer confidence took a 2.6 points beating in March, due to the rising gas prices amid the Middle East uprisings.Consumers’ discretionary spending intentions also showed a drop after modest gains last month as majority of consumers were spending more on gas, and groceries, according to the Discover U.S.
Spending Monitor.”High gas prices inevitably take a bite out of consumers’ budgets.
Though we know our economy counts on discretionary spending in order to grow, spending less on baseball tickets, new home appliances or a family vacation makes financial sense when consumers are feeling pain at the pump,” Senior Vice President of brand and product management Julie Loeger said in a statement.The Discover U.S.
Spending Monit…

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