Key Points
Consumer confidence inched up in March after two straight monthly declines, even as persistent inflation, bank collapses and anxiety over a possible recession weighed on American households...
The Conference Board reported Tuesday that its consumer confidence index rose to 104.2 in March from 103.4 in February..
Optimism about current conditions fell, though consumers grew slightly more positive about the short-term future..
The board's expectations index - a measure of consumers' six-month outlook for income, business and labor conditions - rose in March to 73 from 70.4 in February..
Consumer spending, which makes up about 70% of U.S. economic activity, has remained strong despite the Federal Reserve raising interest rates nine straight times since March of last year in its effort to cool the economy and bring down persistent, four-decade high inflation..
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