The Conference Board’s Consumer Confidence Index hit 101.3 in March, as rvbusiness has learned from CNBC, beating estimates. Economists surveyed by Reuters anticipated a reading of 96.2. February’s reading was revised from 96.4 to 98.8.
Further, the proportion of consumers expecting their incomes to grow rose from 16.4 percent to 18.4 percent, while those anticipating a drop fell from 10.8 percent to 9.9 percent. Lynn Franco, director of economic indicators at the Conference Board, tells MHProNews while consumers were not very positive about business conditions, the increase in consumer sentiment “was driven by an improved short-term outlook for both employment and income prospects.” ##
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Article submitted by Matthew J. Silver to Daily Business News-MHProNews.