US Consumer Confidence plummeted in March!

Hi HODLers, Hiveans and Lions,

The Conference Board Consumer Confidence Index® fell by 7.2 points in March to 92.9

“Consumer confidence declined for a fourth consecutive month in March, falling below the relatively narrow range that had prevailed since 2022,”

The quotes from the Conference Board and insights into the different components are especially negative and pesismistic:

Consumers’ expectations were especially gloomy, with pessimism about future business conditions deepening and confidence about future employment prospects falling to a 12-year low. Meanwhile, consumers’ optimism about future income—which had held up quite strongly in the past few months—largely vanished, suggesting worries about the economy and labor market have started to spread into consumers’

Present Situation and Expectations Index

Interestingly, US Consumer seems fine but is quite worried about its future. What was also interesting was that 55 years old+ were the ones that turned the most pessimistic compared to February. And usually... These are big spenders.

It's hard to tell as "expectations and feelings" are not hard data and some of these indicators could suffer from political bias (Democrats becoming gloomy since Trump took office).

Time will tell but the Stock or Crypto Markets didn't really care about this new set of data.

As long as the job market remains strong, Markets should be fine.

Will job market remain strong though? Time will tell!

Stay safe out there,

Source

• Is Coinbase about to buy Deribit?
  

• Making an extra $100 a day: Where do I invest!?
  

• Is inflation finally under control?

Posted Using INLEO