US Consumer Confidence Shaken Amid High Prices and Lingering Recession Fears

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Published on March 26, 2024 - Duration: 01:31s

US Consumer Confidence Shaken Amid High Prices and Lingering Recession Fears

US Consumer Confidence , Shaken Amid High Prices , and Lingering Recession Fears.

'The Independent' reports that consumer confidence in the United States continues to hold steady despite high prices and declining optimism regarding the short-term future.

'The Independent' reports that consumer confidence in the United States continues to hold steady despite high prices and declining optimism regarding the short-term future.

On March 26, the Conference Board research group released its consumer confidence index, which measures Americans' outlook for the next six months.

The index tracking consumer confidence fell to 104.7 in March from a revised 104.8 in February.

The index measuring short-term expectations for income, business and the overall job market fell to 73.8 from 76.3 last month.

'The Independent' reports that any number below 80 could signal the potential for a recession.

At the same time, consumers' view of current conditions improved to 151 from 147.6 last month.

The month before, consumers' optimism regarding current conditions had been at 154.9.

Economists pay close attention to consumer spending as it accounts for approximately 70% of the United States' economic activity.

Last month, the Conference Board's index saw larger declines, falling from 106.7 from a revised 110.9 in January.

At the time, economists had forecast that the index was going to stay steady from January to February.

The index tracking short-term expectations fell from 81.5 in January to 79.8.


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