Consumer Confidence Declines in March

The Consumer Confidence Index, which had increased in February, declined in March and currently stands at 63.4 (1985=100), down from 72 in February, according to the Conference Board. The Expectations Index also declined in March to 81.1 from 97.5 in February, while the President Situation Index improved to 36.9 from 33.8.

Consumers’ assessment of current conditions improved in March, with those claiming business conditions are “good” increasing to 15.1 percent from 12.4 percent, and those claiming business conditions are “bad” decreasing to 37 percent from 39.3 percent.

Consumers’ appraisal of the job market, however, was slightly less favorable than in February. Those saying jobs are “hard to get” edged up to 44.6 percent from 44.4 percent, while those stating jobs are “plentiful” dipped to 4.4 percent from 4.9 percent.

Source: The Conference Board