US Consumer Confidence Slightly Down In March

US consumer confidence declined slightly in March, the New York-based Conference Board said Tuesday.

The consumer confidence index, a leading indicator of consumer spending and economic activity, fell 0.1 points to 104.7 in March, from 104.8 in February.

The market expectation for the index was to come in at 106.9.

The index was at 110.9 in January – its highest reading since December 2021.

"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.

"However, over the last six months, confidence has been moving sideways with no real trend to the upside or downside either by income or age group," she added. -