CB Consumer Confidence increased to 96.2
The Conference Board Consumer Confidence Index, which had decreased in February, improved in March. The Index now stands at 96.2 (1985=100), up from 94.0 in February. Analysts were anticipating reading of 93.9. The Present Situation Index declined moderately from 115.0 to 113.5, while the Expectations Index increased from 79.9 to 84.7 in March.
“Consumer confidence increased in March, after declining in February,” said Lynn Franco, Director of Economic Indicators at The Conference Board. “Consumers’ assessment of current conditions posted a moderate decline, while expectations regarding the short-term turned more favorable as last month’s turmoil in the financial markets appears to have abated. On balance, consumers do not foresee the economy gaining any significant momentum in the near-term, nor do they see it worsening.”
Euro is currently being traded few points above 1.1220 level, Sterling is around 1.4250 handle, while Aussie is at 0.7550 area.
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