US consumer confidence ticks up in March

Consumer confidence inched up in March after two straight monthly declines, even as persistent inflation, bank collapses and anxiety over a possible recession weighed on Americans. The Conference Board reported Tuesday that its consumer confidence index rose to 104.2 in March from 103.4 in February. The business research group’s present situation index — which measures consumers’ assessment of current business and labor market conditions — inched down to 151.1 from 153 last month. The board’s expectations index — a measure of consumers’ six-month outlook for income, business and labor conditions — rose in March to 73 from 70.4 in February.