CB: U.S. Consumer Confidence Edges Higher in March
3/31 9:32 AM
CB: U.S. Consumer Confidence Edges Higher in March
Barani Krishnan
DTN Refined Fuels Market Reporter
SECAUCUS, NJ (DTN) -- U.S. consumer confidence edged higher in March as an
improved assessment of current conditions offset a slight decline in future
expectations, the Conference Board said Tuesday (3/31).
The Conference Board reported that its headline confidence index rose 0.8
points to 91.8 this month. This was above the market expectation of 87.5. The
index for February was revised slightly to 91.0, according to the report. The
"Consumer confidence ticked up again in March, as a modest improvement in
consumers' views of current conditions outweighed a slight downshift in
expectations," Dana M. Peterson, chief economist at the Conference Board, said
in a news release. "Three of five components of the Index firmed in March, and
overall confidence improved modestly for a second month."
The confidence index is a gauge of the household optimism that fuels roughly
70% of the U.S. economy through personal spending and is closely watched by
market analysts.
Consumers' assessment of their current economic situation -- the present
situation index -- rose 4.6 points to 123.3 in March. The expectations index,
which gauges the short-term outlook, declined 1.7 points to 70.9, remaining
below the 80-point threshold often associated with upcoming recession.
The Conference Board added that write-in responses highlighted that surging
costs from tariffs and the war in Iran remained primary sources of economic
stress. Peterson also noted that while trade mentions decreased, comments
regarding oil, gas, and conflict spiked during the survey period.
The U.S. dollar index slid 0.513 points to 99.84, following the release of
the Conference Board data.
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