Wary consumers glum on economy

U.S. consumers continued to frown on the state of the economy, as falling home values, an increasing number of foreclosures and $100-per-barrel oil pushed consumer confidence downward this month. The RBC CASH Index fell to a reading of 33.1 in March, down from a reading of 48.5 in February, marking the worst index's worst reading since it was first tabulated in January 2002. This month's negative reading continues the index's downward spiral from earlier readings of 56.3 in January and 69.5 in December. The Expectations Index, which measures consumers' economic outlook, plummeted to -41.6 this month, down from the -7.0 reading in February. The Current Conditions Index fell to a reading of 54.7 in March, compared to 63.6 last month, due to a significant weakening in consumers' evaluations of the current state of the local economy. The Investment Index, which stands at a reading of 56.7, fell from 62.6 in February, as attitudes regarding stock and real estate investments fell significantly. The Jobs Index, which measures Americans' perception of their job security, slipped slightly to a 99.2 reading, down from 101.3 last month. The index was compiled between from a sample of 1,013 U.S. adults pulled between March 3 and March 5.