Consumer confidence dips in March
Consumer confidence declined moderately in March, but still remained near historically high levels.
The consumer confidence index decreased to 127.7 in March from a revised 130 in February, which was an 18-year high, the Conference Board said Tuesday. The Present Situation Index (consumers’ assessment of current conditions) slipped from 161.2 to 159.9, while the Expectations Index (assessment of future conditions) declined from 109.2 last month to 106.2 this month.
“Consumers’ assessment of current conditions declined slightly, with business conditions the primary reason for the moderation,” said Lynn Franco, director of economic indicators at The Conference Board. “Consumers’ short-term expectations also declined, including their outlook for the stock market, but overall expectations remain quite favorable.”
Consumers’ outlook for the job market was also less positive in March. The proportion expecting more jobs in the months ahead decreased from 22.4% to 19.1%, while those anticipating fewer jobs increased from 12.4% to 12.6%. Regarding their short-term income prospects, the percentage of consumers expecting an improvement decreased from 23.5% to 22.0%, however, the proportion expecting a decrease also declined, from 8.6% to 7.2%.
The consumer confidence index decreased to 127.7 in March from a revised 130 in February, which was an 18-year high, the Conference Board said Tuesday. The Present Situation Index (consumers’ assessment of current conditions) slipped from 161.2 to 159.9, while the Expectations Index (assessment of future conditions) declined from 109.2 last month to 106.2 this month.
“Consumers’ assessment of current conditions declined slightly, with business conditions the primary reason for the moderation,” said Lynn Franco, director of economic indicators at The Conference Board. “Consumers’ short-term expectations also declined, including their outlook for the stock market, but overall expectations remain quite favorable.”
Consumers’ outlook for the job market was also less positive in March. The proportion expecting more jobs in the months ahead decreased from 22.4% to 19.1%, while those anticipating fewer jobs increased from 12.4% to 12.6%. Regarding their short-term income prospects, the percentage of consumers expecting an improvement decreased from 23.5% to 22.0%, however, the proportion expecting a decrease also declined, from 8.6% to 7.2%.