US consumer confidence tumbles for the 4th straight month as future expectations hit a 12-year low [Globe and Mail, The (Toronto, Canada)]

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Source: Globe and Mail, The
The Conference Board reported Tuesday that its consumer confidence index fell 7.2 points in March to 92.9. Analysts were expecting a decline to a reading of 94.5, according to a survey by FactSet. The Conference Board’s report Tuesday said that the measure of Americans’ short-term expectations for income, business and the job market fell 9.6 points to 65.2. It is the lowest reading in 12 years and well below the threshold of 80, which the Conference Board says can signal a potential recession in the near future. However, the proportion of consumers anticipating a recession in the next year held steady at a nine-month high, the board reported. “Consumers’ optimism about future income — which had held up quite strongly in the past few months
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