US: Consumer confidence increased sharply in March to its highest level since Dec. 2000

Eren Sengezer FXStreet

Consumer Confidence Index released by the Conference Board showed that the index improved sharply in March to 125.6, up from 116.1 in February. “Consumer confidence increased sharply in March to its highest level since December 2000 (Index, 128.6),” said Lynn Franco, Director of Economic Indicators at The Conference Board. “Consumers’ assessment of current business and labor market conditions improved considerably.

Key highlights from the official report

Consumers’ expressed much greater optimism regarding the short-term outlook for business, jobs and personal income prospects
The percentage saying business conditions are “good” increased from 28.2 percent to 32.2 percent, while those saying business conditions are “bad” decreased from 13.4 percent to 12.9 percent
The percentage of consumers expecting business conditions to improve over the next six months increased from 23.9 percent to 27.1 percent, while those expecting business conditions to worsen declined from 10.5 percent to 8.4 percent.
The proportion expecting more jobs in the months ahead increased from 20.9 percent to 24.8 percent, while those anticipating fewer jobs declined from 13.6 percent to 12.2 percent.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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