After a mixed picture in February (expectations down, current conditions up), analysts expected a big jump in Conference Board Consumer Confidence in March... and they got it.
March Consumer Confidence exploded from 90.4 (revised lower) in Feb to 109.7 in March - the highest since March 2020.
The underlying components also smashed expectations:
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Present situation confidence rose to 110.0 vs. 89.6 last month.
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Consumer confidence expectations rose to 109.6 vs. 90.9 last month - highest since July 2019
Source: Bloomberg
Still, putting these levels in context, they are still dramatically below the pre-COVID levels of confidence...
Source: Bloomberg
Maybe with just a few more trillion dollars of helicopter cash, that Main Street confidence will catch up?
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