US consumer confidence fell in March, almost completely erasing last month's gains, mainly due to fiscal uncertainty in the US. The index compiled monthly by the Conference Board, a private research group, dropped to 59,7 points. In February, the figure stood at 68 points (data revised downwards from 69,6 points in the first reading).
The result for the current month is worse than estimates: analysts expected a more contained drop, to 67,1 points. The component that measures expectations over the next six months decreased from 72,4 to 60,9 points. The score on the current situation decreased from 61,4 to 57,9 points.
"The automatic spending cuts, the so-called sequester, have created uncertainty about the economy's prospects and, as a result, consumers are less confident," said Lynn Franco, director of the Conference Board's research center that compiles the index. According to respondents, 9,4% of Americans think there are "plenty of jobs available," up from 10,1% the previous month.
As for new home sales, in the United States they fell in February, after the previous month's jump. However, the number of homes available for sale rose, a sign that developers are accelerating activity in order to keep pace with growing demand.
According to reports from the US Department of Commerce, the figure fell by 4,6%, to 411 units, after the 13,1% rise in January and below the 415 units expected by analysts. However, sales are still up 12,3% over the same period last year.
