Consumer confidence regarding the state of the economy in the US is at its lowest level in 12 years.

According to the Conference Board report, consumer confidence in the U.S. declined further in March, reaching its lowest level in over a decade regarding future conditions. The monthly confidence index for current conditions dropped by 7.2 points to 92.9, marking the fourth consecutive month of decline, while economists had expected a value of 93.5.

The future expectations index also fell by 9.6 points to 65.2, hitting its lowest in 12 years and falling well below the recessionary threshold of 80. This index measures participants' expectations regarding income, jobs, and employment. Stephanie Guichard, senior economist at the Conference Board, noted, "Consumers have largely lost the optimism they held in recent months about their future income, indicating that concerns about the economy and labor market are starting to affect their personal assessments."