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March 30, 2022 | Chart
The Conference Board Consumer Confidence Index® increased slightly in March, after a decrease in February. The Index now stands at 107.2 (1985=100), up from 105.7 in February.
The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—rose substantially, suggesting that economic growth continued into late Q1. However, the Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions— weakened further, with consumers citing rising prices, especially at the gas pump, and the war in Ukraine as factors.
Nevertheless, consumer confidence continues to be supported by strong employment growth and thus has been holding up remarkably well despite geopolitical uncertainties and expectations for inflation over the next 12 months reaching 7.9 percent—an all-time high. However, these headwinds are expected to persist in the short term and may potentially dampen confidence as well as cool spending further in the months ahead.
For more information about the latest reading of the Consumer Confidence Index®, please visit our website.
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PRESS RELEASE
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All release times displayed are Eastern Time
Note: Due to the US federal government shutdown, all further releases for The Conference Board Employment Trends Index™ (ETI), The Conference Board-Lightcast Help Wanted OnLine® Index (HWOL Index), The Conference Board Leading Economic Index® of the US (US LEI) and The Conference Board Global Leading Economic Index® (Global LEI) data may be delayed. TCB will resume publication once updated US federal government data are released.
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