(The Conference Board) The index of consumer confidence in the US was recorded at 107.2 in March, an improvement from 105.7 the previous month.
A further improvement was noted in the Present Situation Index, which rose to 153.0 from 143.0 in February, as consumers assessed the current business and labor markets more favorably.
Consumers still grew less optimistic about the future, with the Expectations Index, which gauges the short-term outlook in business, labor market, and income falling to 76.6 from 80.8 in February.
Consumers cited rising prices, especially gasoline, and geopolitical tensions in Ukraine as the challenges ahead.
The Conference Board’s Lynn Franco says consumer confidence is supported by robust gains in employment. He still expects headwinds from the high inflation and geopolitical tensions in the months ahead.
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