Consumer Confidence Falls Slightly In March After February Gain
The Conference Board Consumer Confidence Index, which had increased in February, pulled back slightly in March. The index now stands at 70.2 (1985=100), down from 71.6 in February. The Present Situation Index, however, increased to 51.0 from 46.4. The Expectations Index declined to 83.0 from 88.4 in February.
Consumers’ appraisal of current conditions improved in March. Those claiming business conditions are “good” increased 14.3% from 13.7%. However, those claiming business conditions are “bad” also increased, to 32.7% from 31.7%. Consumers’ assessment of the job market was mixed. Those saying jobs are “plentiful” increased to 9.4% from 7.0%, while those stating jobs are “hard to get” also rose, to 41.0% from 38.6%.