Consumer confidence flat in March
By Furniture Today Staff -- Furniture Today, April 4, 2004
NEW YORK — NEW YORK — Consumer confidence in March remained nearly flat with February, according to The Conference Board's Consumer Confidence Index. The March figure was 88.3 compared with February's 88.5.
The Present Situation Index rose to 84.1 in March from 83.3 in February while the Expectations Index dipped to 91 from 91.9.
Lynn Franco, director of the board's Consumer Research Center, said, "The labor market not only continues to dampen consumers' present-day spirits, but it is also making them less optimistic about the short-term outlook."
Looking ahead, 4% of consumers surveyed in March planned to buy a home in the next six months, compared to 3.8% in February. This is the first time since August 2003 the home-buyer percentage reached 4% or more.
Six-month buying plans for major appliances rose 0.3 percentage points in March from February, while car purchase plans dropped 2.1 percentage points from February.
Regionally, three of the nine areas were up in March from February, one was flat and the other five were down. The largest increase, 5.3 points, was in the New England region and the greatest drop was in the East South Central region, which fell 11.1 points.
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