US Consumer Confidence Shaken Amid High Prices and Lingering Recession Fears from ijdr indexing Watch Video

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✓ Published: 27-Mar-2024

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US Consumer Confidence , Shaken Amid High Prices , and Lingering Recession Fears.<br/>'The Independent' reports that consumer <br/>confidence in the United States continues to <br/>hold steady despite high prices and declining <br/>optimism regarding the short-term future.<br/>'The Independent' reports that consumer <br/>confidence in the United States continues to <br/>hold steady despite high prices and declining <br/>optimism regarding the short-term future.<br/>On March 26, the Conference Board research group<br/>released its consumer confidence index, which <br/>measures Americans' outlook for the next six months.<br/>The index tracking consumer <br/>confidence fell to 104.7 in March <br/>from a revised 104.8 in February.<br/>The index measuring short-term expectations <br/>for income, business and the overall job <br/>market fell to 73.8 from 76.3 last month.<br/>'The Independent' reports that <br/>any number below 80 could signal <br/>the potential for a recession.<br/>At the same time, consumers' <br/>view of current conditions improved <br/>to 151 from 147.6 last month.<br/>The month before, consumers' <br/>optimism regarding current <br/>conditions had been at 154.9.<br/>Economists pay close attention to consumer <br/>spending as it accounts for approximately <br/>70% of the United States' economic activity.<br/>Last month, the Conference Board's <br/>index saw larger declines, falling from <br/>106.7 from a revised 110.9 in January.<br/>At the time, economists had forecast <br/>that the index was going to stay <br/>steady from January to February.<br/>The index tracking short-term <br/>expectations fell from 81.5 <br/>in January to 79.8.