The Conference Board has reported that its consumer confidence index dropped from 132.6 in February to 120 in March. As U.S. consumers deal with the COVID-19 pandemic. Lynn Franco, senior director of economic indicators at The Conference Board in a prepared statement said, “Consumer confidence declined sharply in March due to a deterioration in the short-term outlook. The intensification of COVID-19 and extreme volatility in the financial markets have increased uncertainty about the outlook for the economy and jobs. March’s decline in confidence is more in line with a severe contraction – rather than a temporary shock – and further declines are sure to follow.”
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.