US Conference Board Consumer Confidence jumped to 109.7 in March, up from 90.4, well above expectation of 96.0. That’s the highest level since the onset of the pandemic in March 2020. Present Situation Index rose form 89.6 to 110.0. Expectations index rose from 90.9 to 109.6.
Lynn Franco, Senior Director of Economic Indicators at The Conference Board: “Consumers’ assessment of current conditions and their short-term outlook improved significantly, an indication that economic growth is likely to strengthen further in the coming months. Consumers’ renewed optimism boosted their purchasing intentions for homes, autos and several big-ticket items. However, concerns of inflation in the short-term rose, most likely due to rising prices at the pump, and may temper spending intentions in the months ahead.”
