The impact of a Donald Trump presidency continues to resonate, as consumer confidence reached its highest level in 16 years last month, according to Nielsen’s Consumer Confidence Survey.

The Conference Board by Nielsen, which provides information around what consumers buy and watch, conducts the survey.

According to HousingWire, the Consumer Confidence Index improved significantly in March to 125.6, up from 116.1 in February. The Present Situation Index increased from 134.4 to 143.1 and the Expectations Index increased to 113.8, up from 103.9.

Beginning in 1985, the index was set to 100, and the value is adjusted monthly based on results from surveys. Opinions on current conditions account for 40 percent of the index, while future expectations make up 60 percent.

“Consumer confidence increased sharply in March to its highest level since December 2000,” said Lynn Franco, who is the Conference Board director of economic indicators.

“Consumers’ assessment of current business and labor market conditions improved considerably.”

Consumers were much more optimistic about conditions in March, with those rating business conditions as “good” increasing from 28 to 32 percent, while those saying business conditions are bad decreased from 13 percent to 12 percent.

Feelings on the labor market were also more positive, with the percentage of consumers seeing jobs as “plentiful” increased from 26 to 31 percent.

“Consumers also expressed much greater optimism regarding the short-term outlook for business, jobs and personal income prospects,” said Franco.

“Thus, consumers feel current economic conditions have improved over the recent period, and their renewed optimism suggests the possibility of some upside to the prospects for economic growth in the coming months.”

Consumers also relayed optimism for the future of the labor market, with those expecting more jobs in the months ahead increasing from 20 to 24 percent, and those expecting their incomes to increase jumped from 19 to 21 percent.

For more on the economy, including the March job numbers from ADP, click here. ##

 

(Image credits are as shown above.)

 

Submitted by RC Williams to the Daily Business News for MHProNews.