The Conference Board Consumer Confidence Index decreased in March, following an increase in February. The Index now stands at 127.7 (1985=100), down from 130.0 in February. The Present Situation Index decreased from 161.2 to 159.9, while the Expectations Index declined from 109.2 last month to 106.2 this month.

"Consumer confidence declined moderately in March after reaching an 18-year high in February," said Lynn Franco, Director of Economic Indicators at The Conference Board. "Consumers' assessment of current conditions declined slightly, with business conditions the primary reason for the moderation. Consumers' short-term expectations also declined, including their outlook for the stock market, but overall expectations remain quite favorable. Despite the modest retreat in confidence, index levels remain historically high and suggest further strong growth in the months ahead."