The Consumer Confidence Index was 104.7 in March, essentially unchanged from a downwardly revised 104.8 in February, the Conference Board said today. The present situation index—based on consumers’ assessment of current business and labor market conditions—increased to 151 from 147.6 the previous month. The expectations index—based on consumers’ short-term outlook for income, business and labor market conditions—fell to 73.8 from 76.3 in February.
“Consumers’ assessment of the present situation improved in March, but they also became more pessimistic about the future,” said Dana Peterson, chief economist at the Conference Board. “Confidence rose among consumers aged 55 and over but deteriorated for those under 55. Separately, consumers in the $50,000-$99,999 income group reported lower confidence in March, while confidence improved slightly in all other income groups. However, over the last six months, confidence has been moving sideways with no real trend to the upside or downside either by income or age group.”
