Consumer Confidence Level Unchanged from February

U.S. consumer confidence held steady this month, according to the latest Reuters/University of Michigan monthly consumer sentiment index released Friday.

The final index for March held at a 73.6 reading matching February’s level, the survey said.

The figure was higher than economists’ forecasts of a 73 reading and was up from a preliminary reading two weeks ago of 72.5, Bloomberg reported.

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