Consumer Confidence Down: Consumer confidence dropped in...

Consumer Confidence Down: Consumer confidence dropped in March as Americans grew more concerned about rising interest rates, according to a report by the Conference Board. The Conference Board, a business supported research group, said its consumer confidence index fell to 117.7 from 120.7 in February. The index has a base of 100. Despite the drop, the index remained at a relatively high level, noted Fabian Linden, an economist with the research group. “There is, however, increasing concern about interest rates,” Linden said. The group said the number of Americans who plan to purchase a home was sharply lower in March than at the same time last year.