Consumer confidence in the place where the economy is directed reaches 12 years

Consumer confidence was further attenuated in March as the opinion of future conditions fell to the lowest level in more than a decade, the conference board said Tuesday.

The board Monthly Trust Index From the current conditions they fell to 92.9, a decrease of 7.2 points and the fourth consecutive monthly contraction. The economists surveyed by Dow Jones had been looking for a 93.5 reading.

However, the measure of future expectations told an even darker story, with the index falling 9.6 points to 65.2, the lowest reading in 12 years and well below the level of 80 that is considered a signal for a recession ahead.

The index measures the perspectives of respondents for income, businesses and labor perspectives.

“The optimism of consumers about future income, which had remained quite strongly in recent months, disappeared to a large extent, suggesting that concerns about the economy and the labor market have begun to extend to consumers’ evaluations about their personal situations,” said Stephanie Guichard, a senior economist, global indicators in the Conference Board.

The survey occurs amid concerns about the president Donald TrumpRate plans for US imports, which has coincided with a volatile stock market and other surveys that show a diminished feeling.

The fall in trust was driven by a decrease in 55 or more, but was distributed among income groups.

In addition to general pessimism, the prospects for the stock market slide sharply, with only 37.4% of respondents waiting for higher capital prices in next year. That marked a drop of 10 percentage points since February and it was the first time that the view became negative since the late 2023.

The opinion of the labor market was also weakened, and those who expect more jobs to be available to 16.7%, while those who expect less jobs increased to 28.5%. The respective February readings were 18.8% and 26.6%.

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