Today, the Consumer Confidence Index for the month of March was released by The Conference Board.
Guess what? Consumers feel pretty OK. The index is down slightly from last month, to 70.2, but that was expected after the big gain in February.
“The moderate decline was due solely to a less favorable short-term outlook, while consumers’ assessment of current conditions, on the other hand, continued to improve. The Present Situation Index now stands at its highest level in three and a half years (61.1, Sept. 2008), suggesting that despite this month’s dip in confidence, consumers feel the economy is not losing momentum,” Lynn Franco, director of The Conference Board Research Center, said in a press release.
Every month, a business research organization called The Conference Board surveys 5,000 people to find out how they’re feeling about the economy. Their results are known as The Conference Board Consumer Confidence Index. The results for August were released Tuesday morning and showed that consumers are feeling slightly less bleak, the Conference Board press release