US consumers still confident, but outlook not as rosy

By MATT OTT
AP Business Writer

SILVER SPRING, Md. (AP) — U.S. consumer confidence bounced back in March and remains high, though consumers’ short-term outlook is not quite as rosy. The Conference Board, a business research group, said Tuesday that its consumer confidence index — which takes into account consumers’ assessment of current conditions and their outlook for the future — rose to 107.2 in March from 105.7 in February. However, the expectations index, based on consumers’ six-month outlook for income, business and labor market conditions, declined to 76.6 from 80.8 in February. Respondents cited higher prices — particularly gas prices — and the war in Ukraine as the biggest factors.