The Globe and Mail reports in its Saturday edition that U.S. consumer sentiment fell more than expected in March, says the University of Michigan's Surveys of Consumers. A Reuters dispatch to The Globe reports that global oil prices surged over 50 per cent. Retail gasoline prices jumped to $3.98 per gallon from $2.98 (all figures U.S.). The S&P 500 index has fell about 6.7 per cent. Although the link between consumer sentiment and spending is weak, increasing gasoline prices and declining share values, combined with a stagnant labour market, could weaken consumption and slow economic growth. The UofM said its Consumer Sentiment Index (CSI) dropped to a final reading of 53.3 this month, the lowest since December, from 55.5 earlier. Economists polled by Reuters had forecast the index would ease to 54. It was at 56.6 in February and is not too far from a record low touched in June, 2022. The CSI's short-run economic outlook fell 14 per cent, and year-ahead personal finance expectations dropped 10 per cent. Long-run expectations declined but to a lesser extent. UofM's Joanne Hsu said, "These patterns suggest that, at this time, consumers may not expect recent negative developments to persist far into the future."