US consumer confidence improved in March after falling in February as Americans grew more optimistic about the economy in the coming months, the Conference Board said Tuesday.
The consumer confidence index rose to 101.3 in March from 98.8 in February.
Consumers` views of current conditions fell for the second straight month, to 109.1 in March from 112.1 in February, with increased assessments that business conditions are "bad" and jobs are "hard to get".
But looking ahead six months, the consumers` expectations index advanced to 96.0 in March from 90.0 the prior month.
"This month`s increase was driven by an improved short-term outlook for both employment and income prospects; consumers were less upbeat about business conditions," said Lynn Franco, director of economic indicators at the Conference Board, in a statement.
The decline in the present situation index suggested that economic growth may have softened in the first quarter "and doesn`t appear to be gaining any significant momentum heading into the spring months," Franco said.
