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Consumers Are More Hopeful About the Future

Consumers’ outlook on the economy and jobs rose unexpectedly this month.

By Reade Pickert | March 29, 2023 at 09:14 AM
Photo: Shoppers carry bags in San Francisco on September 29, 2022. Shoppers carry bags in San Francisco on September 29, 2022.

U.S. consumer confidence unexpectedly improved in March, as Americans grew more optimistic about the outlook for business conditions and the labor market.

The Conference Board’s index increased to 104.2, from a 103.4 reading in February, according to data released on Tuesday. The median forecast in a Bloomberg survey of economists called for the gauge to fall to 101.

A measure of expectations—which reflects consumers’ six-month outlook—climbed to 73. However, the group’s gauge of current conditions dropped to 151.1.

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