Consumer Confidence Falls in March

Consumer confidence fell in March from a three-month high in February, the New York-based Conference Board said Tuesday.

The group’s monthly index fell to a reading of 59.7 from a revised 68 in February that was lower than originally reported.

Economists had forecast the reading would fall to 67.5, Bloomberg News reported.

An improvement in confidence may increase consumer spending, which accounts for 70% of the economy.