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Consumer Confidence up a Little In March, But Still Low

Consumer confidence inched up a little in March but remained near record lows as the economy remained in a funk. The Conference Board's Consumer Confidence Index grew to 26.0 in March from an upwardly revised 25.3 in February. The original February reading of 25 represented an all-time low for the index, which dates back to 1967. "Apprehension about the outlook for the economy, the labor market and earnings continues to weigh heavily on consumers' attitudes," said Lynn Franco, director of the Conference Board's Consumer Research Center. "Looking ahead, consumers remain extremely pessimistic about the short-term future and do not foresee a turnaround in economic conditions over the coming six months." The Present Situation Index declined to 21.5 in March from 22.3 in February. The Expectations Index increased to 28.9 from 27.3 in February.

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Date Last Updated: 04/02/2009