Consumer sentiment has declined for the first time since August, dipping to 74.3 in a preliminary reading for March from a final level of 75.3 for February, according to Friday reports on the gauge from the University of Michigan/Thomson Reuters
Economists polled by MarketWatch had expected a March reading of 76.5
The sentiment gauge, which covers how consumers view their personal finances as well as business and buying conditions, averaged about 87 in the year before the start of the most recent recession Economists watch sentiment data to get a feel for the direction of consumer spending
Opposing forces are impacting consumers -- recent employment news has been positive, while gas prices have gained about a dime per gallon this month
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