Consumer confidence declined further in March as the view of future conditions fell to the lowest level in more than a decade, the Conference Board reported Tuesday.
The board’s monthly confidence index of current conditions slipped to 92.9, a 7.2-point decline and the fourth consecutive monthly contraction. Economists surveyed by Dow Jones had been looking for a reading of 93.5.
However, the measure for future expectations told an even darker story, with the index tumbling 9.6 points to 65.2, the lowest reading in 12 years and well below the 80 level that is considered a signal for a recession ahead.
The index measures respondents’ outlook for income, business and job prospects.
The survey comes amid worries over President Donald Trump’s plans for tariffs on U.S. imports, which has coincided with a volatile stock market and other surveys showing waning sentiment.
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