NEW YORK–After a 10.5-point dive in February, the consumer confidence index made something of a recovery this month.
As compiled by The Conference Board, the index rose 6.1 points to 52.5 in March. Both of the component indices, present situations and expectations, made significant gains as well—with the present situations index picking up 4.3 points and the expectations index rising by 7.3 points. In addition, the percentages of consumers who viewed present and future conditions as “bad” declined, while those saying the present and future looked better rose.
While noting that consumer confidence looked somewhat healthier, Lynn Franco, director of the The Conference Board’s Consumer Research Center, also said consumers are still expressing concern about current business and labor-market conditions. “And their outlook for the next six months is still rather pessimistic,” Franco said. “Overall, consumer-confidence levels have not changed significantly since last spring.”