U.S. consumer-confidence decline is latest sign of rising economic anxiety
The numbers: Consumer confidence fell sharply in March, extending a recent up-and-down pattern that reflects greater worries about the U.S. economy.
Another measure of how Americans think the economy will be six months from now posted a smaller 4-point drop to 99.8. “Despite these dynamics, consumers remain confident that the economy will continue expanding in the near term,” she added. “However, the overall trend in confidence has been softening since last summer, pointing to a moderation in economic growth.”Big picture : “The U.S. economy slowed toward the end of last year and got off to a sluggish start in 2019. The construction and manufacturing trades have softened and consumer spending has also tapered off.
Market reaction: The Dow Jones Industrial Average DJIA, +0.88% and S&P 500 SPX, +0.88% rose sharply in Tuesday trades, but gains were pared after the drop in consumer confidence.
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