US March consumer confidence 92.9 vs 94.0 expected

• Prior was 98.3 (revised to 100.1)
• Present Situation Index 134.5 vs. 136.5 prior
• Expectations Index 65.2 vs 72.9 prior
• 12-month inflation expectations 6.2% vs 5.8% prior

This is a better indicator than the UMich survey but I think most of the market is at the point where they want to see signs of softening in the hard data rather than this.

That said, this is the fourth straight month of declines and goes back to January 2021, when the pandemic was still biting hard.

This is a better indicator than the UMich survey but I think most of the market is at the point where they want to see signs of softening in the hard data rather than this.

That said, this is the fourth straight month of declines and goes back to January 2021, when the pandemic was still biting hard.

“Consumer confidence declined for a fourth consecutive month in March,
falling below the relatively narrow range that had prevailed since
2022,” said Stephanie Guichard, Senior Economist, Global Indicators at
The Conference Board. “Of the Index’s five components, only consumers’
assessment of present labor market conditions improved, albeit slightly.
Views of current business conditions weakened to close to neutral.
Consumers’ expectations were especially gloomy, with pessimism about
future business conditions deepening and confidence about future
employment prospects falling to a 12-year low. Meanwhile, consumers’
optimism about future income—which had held up quite strongly in the
past few months—largely vanished, suggesting worries about the economy
and labor market have started to spread into consumers’ assessments of
their personal situations.”

This article was written by Adam Button at www.forexlive.com.