Consumers less upbeat
The Economic Tendency Indicator fell for a fourth successive month in March from 109.4 to 108.4 but still points to much stronger sentiment than normal in the economy. The decrease was due to a further deterioration in consumer confidence and slightly weaker signals from the service sector.The confidence indicator for the manufacturing industry did not change notably and continues to reflect a very strong situation. Firms’ view of their order books is historically positive, and relatively few are unhappy about excessive stocks. Production plans remain just above the historical average.