Consumers less gloomy in March

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For the fifth consecutive month, consumers are less pessimistic in March than they were in the previous month. However, consumer confidence is still low. In March, it stands at -39, up from -44 in February. Consumers are less pessimistic about the economic situation, and willingness to buy is also less negative.

At -39, the consumer confidence indicator in March is positioned well below its long-term average over the past two decades (-10). The indicator reached an all-time high (36) in January 2000 while the all-time low (-59) was reached in September and October 2022. CBS has monitored consumer confidence since April 1986.

Consumers less gloomy about economic climate

Consumers are less pessimistic about the economy in March than they were in February. This component indicator stands at -48, up from -54 in February. Consumers are less pessimistic both about the economy in the next twelve months and about the economy over the past twelve months.

Willingness to buy less negative

Consumers’ willingness to buy stands at -33 in March, up from -37 in February. Consumers are less negative both about their financial situation in the next twelve months and about their financial situation over the past twelve months. Consumers are also less negative about making large purchases in March than they were in February.

Sources

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