The consumer confidence index rose to 52.5 in March, exceeding economists' expectations and rebounding from poor figures in February, the Conference Board reported today.
The February index was revised slightly higher to 46.4 from 46.0 reported last month.
Economists expected the index would increase to 50.0, according to the median estimate from Thomson Reuters.
The present situation index increased to 26.0 in March and was revised higher to 21.7 from 19.4 in February. The expectations index increased to 70.2 from a downwardly revised 62.9 in February from 63.8 initially reported.
"Consumer confidence, which had declined sharply in February, managed to recoup most of the loss in March," said Lynn Franco, director of the board’s consumer research center, in a statement.
"However, despite this month’s increase, consumers continued to express concern about current business and labor market conditions. And, their outlook for the next six months is still rather pessimistic. Overall, consumer confidence levels have not changed significantly since last spring."
