U.S. consumer confidence declined in March, falling below expectations and breaking a two-month streak of gains.
CNBC reported that the Conference Board’s measure of consumer attitudes on current and future economic conditions fell to 127.7, well below expectations of 131 from a survey of Reuters economists.
Consumer confidence fell in March after hitting an 18-year high in February, mostly due to outlook on business conditions. Outlook was less optimistic about current business conditions, as well as prospects in the next six months.
“Despite the modest retreat in confidence, index levels remain historically high and suggest further strong growth in the months ahead,” said Conference Board Director of Economic Indicators Lynn Franco.
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