After a modest increase in February, consumer confidence surged to the highest level in a year, as consumers reporting a significantly more positive view of the job market and the economic growth. However, concerns about inflation may cause consumers to temper their spending in the coming months.
The Consumer Confidence Index, reported by the Conference Board, rose 19.3 points from 90.4 to 109.7 in March, the highest level since the start of COVID-19 pandemic. The Present Situation Index climbed 20.4 points from 89.6 to 110.0, while the Expectation Situation Index increased 18.7 points from 90.9 to 109.6.
Read more at NAHB.