US consumer confidence retreats in Mar

US consumer confidence retreated sharply in March, confounding expectations that the rebound in the prior month would continue, according to a private survey released Tuesday.

That decline, which included a more pessimistic view of current business and employment conditions, was accompanied by a slightly less positive outlook for the economy, according to The Conference Board survey.

The consumer confidence index fell seven points to 124.1, erasing much of the 10-point gain in February and defying economists’ forecasts for a slight uptick.

“Confidence has been somewhat volatile over the past few months, as consumers have had to weather volatility in the financial markets, a partial government shutdown and a very weak February jobs report,” said Lynn Franco of The Conference Board.

 

US consumer confidence retreats in Mar

US consumer confidence retreated sharply in March, confounding expectations that the rebound in the prior month would continue, according to a private survey released Tuesday. That decline, which included a more pessimistic view of current business and employment conditions, was accompanied by a slightly less positive outlook for the economy, according to The Conference Board survey. The consumer confidence index fell seven points to 124.1, erasing much of the 10-point gain in February and defying economists forecasts for a slight uptick. Confidence has been somewhat volatile over the past few months, as consumers have had to weather volatility in the financial markets, a partial government shutdown and a very weak February jobs report, said Lynn Franco of The Conference Board.