By DPA,
Washingto: Consumer confidence in the US recovered in March after a sharp drop the previous month, a private research group reported Tuesday.
The New York-based Conference Board’s monthly index of consumer confidence climbed to 52.5 from 46.4 in February. The index stood at 56.5 in January.
The higher figures were spurred by some optimism over employment prospects in the coming months as the economy recovers from a deep recession.
But Lynn Franco, director of research at the Conference Board, noted the index has been relatively stagnant over the past year. She said households “continue to express concern about current business and labour market conditions.”