Gas Prices Pushes Consumer Confidence Down
Higher gas prices may account for a stumble in the Consumer Confidence Index.
The index, generated by a New York-based business group called, “The Conference Board,” is generally considered a barometer of shoppers’ enthusiasm for spending money in retailing.
The index in March is down slightly from February. But Conference Board Economist Ken Goldstein says there is not a lot to fear here. He says the take away here is that consumer confidence has been making a great rebound from its lows of just a few years ago.
Goldstein says putting the current March blip aside, if jobs and housing recover in the months ahead, that Consumer Confidence Index will continue to go up.