US consumer confidence tumbles for the 4th consecutive month to a 12-year low
By MATT OTT, Associated Press
WASHINGTON (AP) — U.S. consumer confidence fell for the fourth straight month as Americans’ anxiety about their financial futures declined to a 12-year low amid rising concern over tariffs and inflation.
The Conference Board reported Tuesday that its consumer confidence index fell 7.2 points in March to 92.9. Analysts were expecting a decline to a reading of 94.5, according to a survey by FactSet.
The Conference Board’s report Tuesday said that the measure of Americans’ short-term expectations for income, business and the job market fell 9.6 points to 65.2.
It is the lowest reading in 12 years and well below the threshold of 80, which the Conference Board says can signal a potential recession in the near future. However, the proportion of consumers anticipating a recession in the next year held steady at a nine-month high, the board reported.
“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,” said Stephanie Guichard, senior economist at The Conference Board.