The Conference Board Consumer Confidence Index Improved in March

Estimated reading time: 2 minutes

The Conference Board Consumer Confidence Index, which had decreased in February, improved in March. The Index now stands at 96.2 (1985=100), up from 94.0 in February. The Present Situation Index declined moderately from 115.0 to 113.5, while the Expectations Index increased from 79.9 to 84.7 in March.

The monthly Consumer Confidence Survey, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was March 17.

“Consumer confidence increased in March, after declining in February,” said Lynn Franco, Director of Economic Indicators at The Conference Board. “Consumers’ assessment of current conditions posted a moderate decline, while expectations regarding the short-term turned more favorable as last month’s turmoil in the financial markets appears to have abated. On balance, consumers do not foresee the economy gaining any significant momentum in the near-term, nor do they see it worsening.”

Consumers’ appraisal of current conditions eased in March. Those saying business conditions were “good” decreased from 26.5 percent to 24.9 percent. However, those saying business conditions are “bad” edged down from 19.0 percent to 18.8 percent. Consumers’ appraisal of the labor market was mixed. Those claiming jobs are “plentiful” increased from 22.8 percent to 25.4 percent, while those claiming jobs are “hard to get” also rose to 26.6 percent from 23.6 percent.

Consumers were more optimistic about the short-term outlook than in February. The percentage of consumers expecting business conditions to improve over the next six months increased moderately from 14.5 percent to 15.0 percent, while those expecting business conditions to worsen decreased from 11.6 percent to 9.2 percent.

Consumers’ outlook for the labor market was also more favorable. Those anticipating more jobs in the months ahead increased slightly from 12.2 percent to 12.9 percent, while those anticipating fewer jobs decreased from 17.7 percent to 16.3 percent. The proportion of consumers expecting their incomes to increase declined moderately from 17.7 percent to 17.2 percent, while the proportion expecting a reduction in income edged up from 11.6 percent to 11.8 percent.

About The Conference Board

The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world’s leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States.

ABOUT NIELSEN

Nielsen Holdings plc (NYSE: NLSN) is a global performance management company that provides a comprehensive understanding of what consumers watch and buy. Nielsen's Watch segment provides media and advertising clients with Total Audience measurement services for all devices on which content — video, audio and text — is consumed. The Buy segment offers consumer packaged goods manufacturers and retailers the industry's only global view of retail performance measurement. By integrating information from its Watch and Buy segments and other data sources, Nielsen also provides its clients with analytics that help improve performance. Nielsen, an S&P 500 company, has operations in over 100 countries, covering more than 90 percent of the world’s population.