In its latest Consumer Confidence Survey, the Conference Board said that the consumer sentiment deteriorated in March with the Confidence Index dropping to 124.1 from 131.4 in February.
“Confidence has been somewhat volatile over the past few months, as consumers have had to weather volatility in the financial markets, a partial government shutdown and a very weak February jobs report. Despite these dynamics, consumers remain confident that the economy will continue expanding in the near term,” Lynn Franco, Senior Director of Economic Indicators at The Conference Board said.
“However, the overall trend in confidence has been softening since last summer, pointing to a moderation in economic growth.”
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