INSTANT VIEW: Comments on consumer confidence

NEW YORK (Reuters) - The Conference Board said on Tuesday its index of consumer sentiment fell in March to 64.5 -- its lowest since March 2003 -- from an upwardly revised 76.4 in February.

The median forecast of economists polled by Reuters was for a reading of 73.5 in March. February's index was originally reported at 75.0.

KEY POINTS: * The Conference Board said its expectations index fell to 47.9 -- its lowest since January 1974 -- from an upwardly revised 58.0 in February.

COMMENTS:

NIGEL GAULT, CHIEF U.S. ECONOMIST, GLOBAL INSIGHT, WALTHAM, MASSACHUSETTS:

"This is a very poor reading for the headline. These are dramatic declines with all the bad news hitting the consumers. It's hard to say anything positive for the consumers. The tax rebate will help consumers but it's not a cure.

"We are looking at plunging consumer confidence since last summer. Consumers are pulling back. We are seeing weakness in (demand for) big-ticket items and anything related to the homes. It's also bad news for autos.

"For the immediate future, consumer spending will be very weak. It also raises the question how much of a boost we will get from the tax rebate. With confidence this low, they will likely save the rebate rather than spend it."

STEPHEN MALYON, CURRENCY STRATEGIST, SCOTIA CAPITAL, TORONTO: