Consumer Confidence Hits Decade Low Amid Economic Fears

Consumer confidence experienced a further decline in March, reaching its lowest point regarding future conditions in over a decade, according to a report released by the Conference Board on Tuesday.

The organization’s monthly confidence index for current conditions dropped to 92.9, a decline of 7.2 points, marking the fourth consecutive month of reduced confidence. This reading fell short of the 93.5 anticipated by economists surveyed by Dow Jones.

Notably, the index gauging future expectations saw a significant decrease, plummeting 9.6 points to 65.2, the weakest reading in 12 years and falling below the 80 mark often interpreted as a precursor to recession.

This index reflects respondents’ perceptions regarding income, business environments, and employment opportunities.

Stephanie Guichard, senior economist for global indicators at The Conference Board, stated, “Consumers’ optimism about future income — which had held up quite strongly in the past few months — largely vanished, suggesting worries about the economy and labor market have started to spread into consumers’ assessments of their personal situations.”

The survey arrives amid concerns surrounding President Donald Trump’s proposed tariffs on U.S. imports, coinciding with a turbulent stock market and other indicators reflecting diminishing consumer sentiment.

While the overall loss of confidence was predominantly felt among those aged 55 and older, it was evident across various income levels.