Photo: Daniel Goodman / Business Insider
UPDATE: Consumer Confidence fell from a revised 71.6 last month to 70.2 this month.This comes in pretty much in line with expectations for 70.0.
Probably the most interesting takeaway of this datapoint is that analyst expectations continue to come in line with data, reversing a trend of economic surprises that’s been dominant since last year.
ORIGINAL: March consumer confidence is out in just a few minutes.
Analysts polled by Bloomberg are expecting the index to fall slightly from 70.8 last month to 70.0 this month.
A string of positive economic indicators so far this year have bolstered investor confidence in the recovery. They’ve argued that increasing consumer demand has probably been the primary driver behind this change.
But we’ve seen a few confusing signs in consumer confidence recently. While this indicator smashed expectations in February, the University of Michigan Consumer Confidence Index unexpectedly fell for this month.