(Reuters) – U.S. consumer sentiment plunged in March as the global coronavirus pandemic weighed on the outlook for the economy, a widely followed monthly survey showed on Friday.
The University of Michigan’s Consumer Sentiment Index fell more than expected to a reading of 89.1 this month, the lowest level since October 2016, from a final reading of 101 in February. It was the largest monthly drop in the index since October 2008, during the height of the financial crisis.
(Reporting By Dan Burns; Editing by Chizu Nomiyama)
