Consumer Confidence Drops in March

The Consumer Confidence Index dipped to its lowest reading since September 2017 as the coronavirus and volatility in financial markets have increased uncertainty.

Adobe Stock/malp

The Consumer Confidence Index, reported by the Conference Board, fell to a near three-year low in March as the coronavirus pandemic and volatility in financial markets have increased uncertainty about the outlook for the economy and jobs. Consumers’ assessment of current business conditions weakened in March and they were significantly less optimistic about the short-term outlook of the economy, according to the National Association of Home Builders’ (NAHB) Eye on Housing blog. The share of respondents anticipating fewer jobs in the next six months increased 5.1 percentage points to 17.1%.

Sidebar Single