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Consumer Confidence Rebounds in March
Following a sharp drop in February, consumer confidence
picked up in March, although Americans remain cautious about
the prospects of an economic recovery. The Conference
Board’s Consumer Confidence Index grew to 52.5 in March from
46.4 in February, which was the lowest reading since April
2009. Lynn Franco, Director of The Conference Board Consumer
Research Center, said that despite the rebound, “consumers
continue to express concern about current business and labor
market conditions, and their outlook for the next six months
is still rather pessimistic.”
The Conference Board’s Present Situation Index, which
measures how consumers feel about current conditions,
increased to 26 from 21.7 in February. The Expectations
Index, which measures consumer expectation for the next six
months, also increased, to 70.2 from 62.9 in February. Some
analysts contend that the sharp decline in confidence in
February was an aberration caused by severe weather that
forced businesses to close temporarily and delayed job
searches. Nevertheless, March's reading is still a long way
from the 90 that reflects a healthy economy.
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Date Last Updated: 04/01/2010
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