US consumers still confident, but outlook not as rosy

[mahatmakanejeeves]

Associated Press

US consumers still confident, but outlook not as rosy

MATT OTT
Tue, March 29, 2022, 10:14 AM

SILVER SPRING, Md. (AP) — U.S. consumer confidence bounced back in March and remains high, though consumers' short-term outlook is not quite as rosy.

The Conference Board, a business research group, said Tuesday that its consumer confidence index — which takes into account consumers’ assessment of current conditions and their outlook for the future — rose to 107.2 in March from 105.7 in February.

The board's present situation index, which measures consumers’ assessment of current business and labor conditions, also rose this month to 153 from 143 in February.

However, the expectations index, based on consumers’ six-month outlook for income, business and labor market conditions, declined to 76.6 from 80.8 in February. Respondents cited higher prices — particularly gas prices — and the war in Ukraine as the biggest factors. ... The proportion of people planning to purchase homes, automobiles, and major appliances over the next six months all fell as interest rates have risen, the Conference Board said.

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