U.S. consumer confidence declines in March: Conference Board

NEW YORK, index.html" target="_blank">index.html" target="_blank">index.html" target="_blank">index.html" target="_blank">march 26 (Xinhua) -- U.S. consumer confidence index.html" target="_blank">index weakened in index.html" target="_blank">index.html" target="_blank">index.html" target="_blank">index.html" target="_blank">march, another sign indicating softening economic outlook, a New York-based business research group reported on Tuesday.

The index.html" target="_blank">index stood at 124.1 this month, down from 131.4 in February. The present situation index.html" target="_blank">index, based on consumers' assessment of current business and labor market conditions, declined from 172.8 to 160.6. The expectations index.html" target="_blank">index, based on consumers' short-term outlook for income, business and labor market conditions, decreased from 103.8 last month to 99.8 this month, according to latest figures from the Conference Board.

"Consumer confidence decreased in index.html" target="_blank">index.html" target="_blank">index.html" target="_blank">index.html" target="_blank">march after rebounding in February, with the present situation the main driver of this month's decline," said Lynn Franco, senior director of Economic Indicators at the Conference Board.

"Confidence has been somewhat volatile over the past few months, as consumers have had to weather volatility in the financial markets, a partial government shutdown and a very weak February jobs report," noted Franco, adding that the overall trend in confidence has been softening since last summer, pointing to a moderation in economic growth.

The consumer confidence index.html" target="_blank">index measures U.S. sentiment on current economic conditions and expectations for the next six months. Consumer spending accounts for about 70 percent of U.S. economic activity, drawing economists' attention to the numbers.