Confidence index may point to recession

March's reading of the Reuters/University of Michigan Index of Consumer Sentiment was the worst since 1992.
MAR 28, 2008
By  Bloomberg
Confidence among U.S. consumers fell in March due to growing concerns about weakening prospects of the economy and anticipated increases in unemployment and inflation by the end of the year. The Reuters/University of Michigan Index of Consumer Sentiment fell to a reading of 69.5 in March, compared to a reading of 70.8 in February. That reading was the worst since 1992 and came in significantly below the 78.7 reading of March 2007. "A recession has occurred whenever the Sentiment Index has declined as much as it has fallen during the past year, including recessions occurring from the mid 1950's to the early 2000's," said Richard Curtin, director of the Reuters/University of Michigan Surveys of Consumers, according to a statement. The index of Consumer Expectations was 60.1 in March, down from the 62.4 reading in February. But below the 78.7 reading recorded in March 2007. Earlier this week, the Conference Board's index of consumer sentiment slid 11.9 points to a reading of 64.5 for the month, marking the lowest figure since March 2003 (InvestmentNews, March 25).

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.