United States: Consumer confidence moderates in March
March 27, 2012
In March, the Conference Board consumer confidence index dropped to 70.2 points from the revised 71.6 points recorded in February (previously reported: 70.8 points). The figure undershot market expectations, which had anticipated the index declining to only 70.9 points. At the current level, consumer confidence stands 6.4 points above the level recorded in the same month a year ago. According to the Conference Board, ?the moderate decline was due solely to a less favourable short-term outlook, while consumers' assessment of current conditions, on the other hand, continued to improve?. The Board added that the present situation index is now at its highest level in three years, ?suggesting that despite this month's dip in confidence, consumers feel the economy is not losing momentum?.