Consumer confidence in where the economy is headed hits 12-year low
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Source: CNBC
Consumer confidence dimmed further in March as the view of future conditions fell to the lowest level in more than a decade, the Conference Board reported Tuesday.
The board’s monthly confidence index of current conditions slipped to 92.9, a 7.2-point decline and the fourth consecutive monthly contraction. Economists surveyed by Dow Jones had been looking for a reading of 93.5.
However, the measure for future expectations told an even darker story, with the index tumbling 9.6 points to 65.2, the lowest reading in 12 years and well below the 80 level that is considered a signal for a recession ahead.
In addition to the general pessimism, the outlook for the stock market slid sharply, with just 37.4% of respondents expecting higher equity prices in the next year. That marked a 10 percentage point drop from February and was the first time the view turned negative since late 2023.
Read more: https://www.cnbc.com/2025/03/25/consumer-confidence-in-where-the-economy-is-headed-hits-12-year-low.html
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