US Consumer Confidence Falls in March

U.S. consumer confidence declined in March, falling below expectations and breaking a two-month streak of gains.

The Conference Board’s measure of consumer attitudes on current and future economic conditions fell to 127.7, well below expectations of 131 from a survey of Reuters economists.

Consumer confidence fell in March after hitting an 18-year high in February, mostly due to outlook on business conditions.

Outlook was less optimistic about current business conditions, as well as their prospects in the next six months.

“Despite the modest retreat in confidence, index levels remain historically high and suggest further strong growth in the months ahead,” said the Conference Board’s director of economic indicators, Lynn Franco.

Consumer confidence in February reached its highest level since 2000, driven by the view of an improving labor force.

via CNBC

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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