â–¶ Confidence Boost:
The Conference Board’s Consumer Confidence Index rebounded in March after a big drop in February. The monthly index measures 5,000 households for their level of optimism about the economy. Findings for March include:
• The Index now stands at 52.5, up from 46.4 in February. The Present Situation Index increased to 26.0 from 21.7. The Expectations Index improved to 70.2 from 62.9.
• Consumers’ assessment of current-day conditions was less negative in March. Those claiming conditions are “bad” decreased to 42.8% from 45.1%, while those claiming conditions are “good” increased to 8.6% from 6.8%.
• Consumers’ assessment of the labor market was less pessimistic. Those saying jobs are “hard to get” declined to 45.8% from 47.3%; those saying jobs are “plentiful” increased to 4.4% from 4.0%.
Source: The Conference Board, TNS