Consumer Confidence Crashes Most Since Oct 2008

After a hope-filled rebound in February, Conference Board Consumer Confidence tumbled in March with Present Situation plunging to 11-month lows.

  • Consumer confidence in March fell to 124.1 vs 131.4 in prior month (that is below the forecast range 125.44 to 136.5 from 57 estimates)

  • Present situation confidence fell to 160.6 vs 172.8 last month

  • Consumer confidence expectations fell to 99.8 vs 103.8 last month

 

This is the biggest monthly collapse in 'Present Situation' since October 2008 to its lowest since April 2018...

And this has happened as stocks pushed back to near record highs.

Most notable is the plunge in the Labor Differential - (Jobs Plentiful - Jabs Hard to Get) which tumbled from 34.3 to 28.3 - the biggest drop since Feb 2009.