Consumer Confidence Falls in March
March 27, 2019
American consumers seem a bit unsure of how they feel about the economy. While earlier in the month, the University of Michigan’s consumer sentiment survey showed consumers feeling more upbeat, The Conference Board’s index of consumer confidence fell.
The index declined to 124.1, down from February’s 131.4. Economists had been expecting a modest increase to 133. Consumers’ feelings about business conditions and job availability both worsened from the month before.
The report noted volatility in confidence over the past few months, as consumers have had to face market volatility, a government shutdown, and a raft of weak economic data, such as February’s anemic job growth. While consumers’ feeling can shift dramatically from month to month, there has been a larger trend of confidence waning since it hit its post-recession peak in October.