(AURN News) — Consumer confidence dropped to its lowest level in 12 years in March, marking the fourth consecutive monthly decline as Americans grow increasingly pessimistic about business conditions and job prospects.
The Consumer Confidence Index, a closely watched economic indicator published by The Conference Board, showed that consumers are particularly worried about future economic conditions, with the decline most pronounced among those older than 55.
“Likely in response to recent market volatility, consumers turned negative about the stock market for the first time since the end of 2023,” said Stephanie Guichard, senior economist of global indicators at The Conference Board.
Only 17.7% of consumers described current business conditions as good, down from February’s numbers. Meanwhile, just 17.1% expected business conditions to improve, a decrease from 20.8% in March.
Despite ongoing news headlines about a potential economic downturn, the survey revealed that consumer perception regarding the likelihood of a recession in the next 12 months remained unchanged from February to March.
The declining confidence comes as the Trump administration faces mounting pressure to address economic concerns during the president’s second term.
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