On January 31, 2025, buyers will go in San Diego, California, near a Nordstrom shop at Westfield UTC Shopping Center.
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Consumer confidence was further trained in March, since the view of future conditions has been at the lowest level for more than a decade, the conference committee reported on Tuesday.
The monthly trust index of the board of directors of current conditions rose to 92.9, a decline of 7.2 points and the fourth monthly contraction in a row. Economists surveyed by Dow Jones had searched for a reading of 93.5.
However, the measure for future expectations told an even darker story, with the index 9.6 points to 65.2, the lowest reading for 12 years and well below the level of 80, which is viewed as a signal for a recession.
The index measures the prospects of the respondents for income, business and professional prospects.
“The optimism of consumers about future income, which has been stopped in the past few months, largely disappeared, which indicates that concerns about the economy and the labor market have expanded to assess consumers' assessments,” said Stephanie Guichard, senior economist, global indicators on the conference board.
The survey takes place in the middle of the plans of President Donald Trump for tariffs on US imports, which coincided with a volatile stock market and other surveys that show a decreasing mood.
The drop in trust was powered by a decline in the 55 or older ones, but was distributed to income groups.
In addition to the general pessimism, the prospects for the stock market started strongly, with only 37.4% of those surveyed expect higher stock prices next year. This was a waste of 10 percentage points compared to February and was the first time that the view has become negative since the end of 2023.
The view of the labor market also weakened weaker, and those who expected more jobs to be available decreased to 16.7%, while those who expected, fewer jobs rose to 28.5%. The respective readings in February were 18.8% and 26.6%.
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