Consumer confidence slightly down from February
Posted on Friday, March 30, 2012 at 8:34:37 PM
As the average consumer gears up spring, they are conscious of a variety of market variables being relayed in the news every evening such as rising gas prices, unemployment rates and foreclosures in their local metros or community. As a result, the Conference Board Consumer Confidence Index has measure slightly lower confidence levels for March than February 2012.
"Consumer Confidence pulled back slightly in March, after rising sharply in February. The moderate decline was due solely to a less favorable short-term outlook, while consumers’ assessment of current conditions, on the other hand, continued to improve. The Present Situation Index now stands at its highest level in three and a half years (61.1, Sept. 2008), suggesting that despite this month's dip in confidence, consumers feel the economy is not losing momentum,” Says Lynn Franco, Director of The Conference Board Consumer Research Center.
While outlook has taken a slight hit, consumers may wish to remain positive and consider entering the market with their purchasing power. If they are able, buying a new vehicle with favorable auto financing options or residential property could improve outlook for the future and throw more money into the economy. However, this is advisable for those who are in a steady financial situation with good credit, reliable wages and a decent down payment.