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Stock impact report

Consumer confidence slumps to 12-year low as Americans fret over their financial prospects [CBS News]

Macy's Inc (M) 
Last macy's inc earnings: 2/25 06:55 am Check Earnings Report
US:NYSE Investor Relations: macysinc.com/ir
Company Research Source: CBS News
The Conference Board said Tuesday that its consumer confidence index fell 7.2 points in March to 92.9, the fourth straight monthly decline and its lowest level since January of 2021. The reading was short of analysts expectations for a reading of 94.5, according to a survey by FactSet. The consumer confidence index measures both Americans' assessment of current economic conditions and their outlook for the next six months. The business group found that the measure of Americans' short-term expectations for income, business and the job market fell 9.6 points to 65.2. That's 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. The proportion of U.S. consumers anticipating a recession remains at a nine-month high, the board reported. "Consumer confidence has come under a microscope in recent months as investors worry about retail sales and consumer spending — the engine of the U.S. ec Show less Read more
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