US Consumer Confidence Holds Steady While Outlook Deteriorates

[BumRushDaShow]

Source: Bloomberg

March 26, 2024 at 10:04 AM EDT
Updated on March 26, 2024 at 10:31 AM EDT


US consumer confidence held steady in March as Americans were sanguine about their current situations but grew slightly more pessimistic about the outlook.

The Conference Board’s gauge of sentiment ticked down to 104.7 from a downwardly revised 104.8 a month earlier, data out Tuesday showed. The median estimate in a Bloomberg survey of economists called for a reading of 107.

A measure of expectations fell to 73.8, the lowest since October, while the gauge of current conditions picked up to 151.

Though consumer confidence had been generally improving in recent months, still-high prices and soaring borrowing costs are weighing on Americans’ purchasing power. Furthermore, the gradual cooling of the labor market could limit optimism in the near term.

Read more: https://www.bloomberg.com/news/articles/2024-03-26/us-consumer-confidence-holds-steady-while-outlook-deteriorates?srnd=homepage-americas

[IronLionZion]

1. Consumers keep consuming

Jobs and stock market are doing great. Inflation is getting better than before. The way to lower prices is to buy less stuff or make more stuff.

I'm optimistic but cautious about the risk of MAGA destroying everything. The people complaining that "nobody wants to work anymore" and the ones claiming we need to stop migrant workers from crossing the border are the same people.