WASHINGTON (Reuters) – U.S. consumer confidence dropped for a fourth straight month in March, with households the most pessimistic about the future in 12 years, a survey showed on Tuesday.
The Conference Board said its consumer confidence index plunged 7.2 points to 92.9 this month. Economists polled by Reuters had forecast the index sliding to 94.0. The Present Situation Index, based on consumers’ assessment of current business and labor market conditions, fell 3.6 points to 134.5.
The Expectations Index, based on consumers’ short-term
outlook for income, business, and labor market conditions, dropped 9.6 points to 65.2 – the lowest level in 12 years and well below the threshold of 80 that usually signals a recession ahead.
(Reporting by Lucia Mutikani; Editing by Chizu Nomiyama)
