Consumer Confidence Plummets in March

NEW YORK-Consumers are significantly less confident about the economy than they were one month ago, according to the latest consumer confidence survey by The Conference Board.

The consumer confidence index shed 8.6 points in the March survey to 63.4. In the two component indexes, the expectations index dropped 16.4 points to 81.1. The present situation index, meanwhile, gained 3.1 points to 36.9.

According to Lynn Franco, director of The Conference Board's Consumer Research Center, consumers are particularly worried about inflation taking hold in the months ahead. "Consumers' inflation expectations rose significantly in March, and their income expectations soured," Franco said, "a combination that will likely impact spending decisions."

In queries about business conditions, the labor market and incomes over the next few months, higher percentages of consumers expressed negative views of all three factors. Current conditions in all three received better appraisals from the surveyed consumers.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

  • Patti Carpenter Talks Color and its Importance in the Home

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN August 2017 cover

    HFN's DIGITAL EDITION

    August 2017


    COVER STORY: Sharpening the Focus on Millennials

    Find out what makes Millennials tick when it comes to home decorating, shopping and at-home entertaining with HFN's annual consumer study. Turns out, Millennials favor the in-store shopping experience.


    ALSO IN THIS ISSUE:

    • Power of the People - Crowdfunding campaigns provide needed capital, feedback for home and housewares product launches.
    •  Omnichannel Retailing: Visual Search Takes Off - Learn how voice and visual search are revolutionizing product discovery.