A survey showed, today, Tuesday, that the US consumer confidence index rose unexpectedly in March, but Americans became somewhat concerned about the labor market.
The Conference Board said its index of consumer confidence rose to 104.2 points this month from 103.4 points in February.
The deadline for the survey was March 20, about ten days after the collapse of two US banks, and economists polled by “Reuters” expected the index to reach 101.0 points.
“The gains reflect an enhanced outlook for consumers under the age of 55 and for households with incomes of $50,000 and more,” said Ataman Özeldirim, senior director of economics at The Conference Board.
The percentage of consumers who see jobs as “plentiful” has decreased compared to those who see the opposite.
Consumer expectations for 12-month inflation rose to 6.3%, from 6.2% last month.