US Consumer Confidence Drops for the Fourth Straight Month, Reaching a 12-Year Low
US Consumer Confidence Falls
WASHINGTON (AP) — US consumer confidence fell for the fourth straight month, marking a drop to a 12-year low. The Conference Board reported that its consumer confidence index decreased by 7.2 points, landing at 92.9 in March, below analysts' expectations of 94.5. This decline reflects rising anxiety over future financial prospects.
Key Insights
- The short-term outlook for income and job markets fell significantly.
- Purchasing plans for homes and cars decreased, yet intentions for big-ticket items like appliances saw an unexpected rise, likely due to preemptive buying ahead of impending tariffs.
- Inflation rates remain above the Federal Reserve's target, compounding consumer unease.
Consumers' perception of current economic conditions has declined 3.6 points, reinforcing concerns about the economy's health as consumer spending constitutes two-thirds of US economic activity.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.