Consumer confidence rebounded in March, as Americans regained optimism about the short-term outlook for the economy.
As reported by the Wall Street Journal, the Conference Board’s index of consumer confidence rose to 96.2 in March from an upwardly revised 94.0 in February, the group said today (March 29).
“Expectations regarding the short-term turned more favorable as last month’s turmoil in the financial markets appears to have abated,” said Lynn Franco, director of economic indicators at the Conference Board.
Economists surveyed by the Wall Street Journal had expected consumer confidence to rise to 93.8 in March.
Consumer sentiment has been broadly positive for more than a year. A number above 90 is generally considered a good reading. But consumer spending has slowed of late, rising only 0.1% each month between December and February, the Commerce Department said Monday.
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