Consumer confidence in the United States deteriorated by more than anticipated in March, according to a report released Friday by the Conference Board. The Consumer Confidence Index dropped to 57, reaching its lowest level since November 2022 and down from February's figure of 64.7.
The Present Situation Index plunged by 1.9 index points to 63.8, and the Expectations Index slowed to 52.6 in March, losing 11.4 index points from last month.
"This month’s decline reflects a clear consensus across all demographic and political affiliations; Republicans joined independents and Democrats in expressing worsening expectations since February for their personal finances, business conditions, unemployment, and inflation," Surveys of Consumers director Joanne Hsu wrote.
