Consumer Confidence Drops to Lowest Since 1973

Consumer confidence plunged to 64.5 in March, the lowest level in about 35 years. Since December, the index has dropped 29% or 26.1 points. “Confidence in the state of the economy continues to fade,” said Lynn Franco of the Conference Board Consumer Research Center. “Looking ahead, consumers’ outlook for business conditions, the job market and their income prospects is quite pessimistic and suggests further weakening may be on the horizon.”

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