NEW YORK – A private research group says consumers’ confidence in the economy rebounded in March. But Americans are still wary as they deal with a weak job market.
The Conference Board’s Consumer Confidence Index rose to 52.5 in March, recovering about half of the nearly 11 points it lost in February. Analysts were expecting a reading of 50 for March.
February’s 46.4 marked the lowest level since April 2009.
A reading of 90 would indicate a healthy economy.
Economists watch the number closely because consumer spending, including health care and other major items, accounts for about 70 percent of U.S. economic activity.