US Consumer Confidence Rises to Highest Level in 16 Years

U.S. consumers’ confidence in the economy rose in March to its highest level since December 2000, a survey showed on Tuesday, led by optimism for finding work and a brighter assessment of business conditions.

The Conference Board said its Consumer Confidence Index rose to a reading of 125.6 in March from an upwardly revised 116.1 in February. Economists polled by Reuters had forecast a reading of 114.0.

“Consumers’ assessment of current business and labor market conditions improved considerably,” said Lynn Franco, Director of Economic Indicators at The Conference Board. “Consumers also expressed much greater optimism regarding the short-term outlook for business, jobs and personal income prospects.”

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza