U.S. consumer confidence little changed in March

The Conference Board Consumer Confidence Index was 104.7 (1985=100) in March, essentially unchanged from a downwardly revised 104.8 in February.

The Present Situation Index — based on consumers’ assessment of current business and labor market conditions — increased to 151.0 (1985=100) in March from 147.6 in February. Meanwhile, the Expectations Index — based on consumers’ short-term outlook for income, business, and labor market conditions — fell to 73.8 (1985=100), down from 76.3 in the previous month. An Expectations Index reading below 80 often signals a forthcoming recession.

“Consumers’ assessment of the present situation improved in March, but they also became more pessimistic about the future,” said Dana Peterson, chief economist at The Conference Board. “Confidence rose among consumers aged 55 and over but deteriorated for those under 55. Separately, consumers in the $50,000 to $99,999 income group reported lower c