U.S. consumer confidence unexpectedly improved in March as Americans grew more optimistic about the outlook for business conditions and the labor market.
The Conference Board’s index increased to 104.2 from a 103.4 reading in February, new data released Tuesday, March 28, showed. The median forecast in a Bloomberg survey of economists called for the gauge to fall to 101.
A measure of expectations — which reflects consumers’ six-month outlook — climbed to 73. However, the group’s gauge of current conditions dropped to 151.1.
The index figures, recorded through March 20, suggest the latest financial turmoil is having little immediate impact on consumer confidence. Learn more.