US Consumer Confidence Inched Up Again in March – The Conference Board Consumer Confidence Index edged up by 0.8 points in March to 91.8 (1985=100), from 91.0 in February. The Present Situation Index based on consumers’ assessment of current business and labor market conditions increased by 4.6 points to 123.3. The Expectations Index based on consumers’ short-term outlook for income, business, and labor market conditions declined by 1.7 points to 70.9. The survey period for preliminary results was March 1 to 24, 2026. While not obvious in the headline or its component indexes, the weight of rising costs due to tariff passthrough and spiking oil prices was evident among other measures in the survey like inflation expectations. “Consumer confidence ticked up again in March, as a modest improvement in consumers’ views of current conditions outweighed a slight downshift in expectations for the future,” said Dana M Peterson, Chief Economist, The Conference Board. “Three of five components of the Index firmed in March, and overall confidence improved modestly for a second month. Nonetheless, the Index has been on a general downward trend since 2021.” The Present Situation Index rose again in March, as net views of current business conditions rose to +5.6% after hovering around 1-2% for three months. Perceptions of employment conditions improved slightly, with the labor market differential the share of consumers saying jobs are “plentiful” minus the share saying jobs are “hard to get” ticking up by 0.1 ppt to +5.8%. The Expectations Index dipped as two of three components net perceptions of labor market and household income conditions six months from now edged downward. However, expected business conditions were slightly less pessimistic in March. Among demographic groups, confidence on a six-month moving average basis continued to moderate in March for consumers under age 35 and 55 and over, and virtually unchanged after a multi-month decline for those aged 35 to 54. Respondents under 35 remain the most optimistic and those 55 and over the least. On a six-month moving average basis, Generation Z remained the most confident among all generations, but their optimism slipped in March along with the Silent Generation, Baby Boomers, and Generation X. Only Millennials cited improved confidence in the month. By income, confidence on a six-month moving average basis continued to dip in six of eight income groups. Only consumers earning $25,000-34,999 and $125,000 and over were somewhat more optimistic. Consumer confidence by political affiliation was little changed. Republicans remained the most optimistic, while confidence was substantially lower among Independents and the lowest among Democrats.
Conference Board – Consumer Confidence Index (03-31-26)
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