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Economics

Consumer Sentiment in U.S. Falls to Lowest Point in Year

Confidence among American consumers unexpectedly slumped in March, which may signal a cooling in spending, the biggest part of the economy.

The Thomson Reuters/University of Michigan preliminary sentiment index for March fell to 71.8, the lowest level since December 2011, from 77.6 in February. The gauge was projected to increase to 78, according to the median estimate of 67 economists surveyed by Bloomberg.