There were mixed readings about consumers' perception of the current state of the economy in March. The University of Michigan's consumer sentiment survey indicated an improvement in confidence while readings from the Conference Board and Bloomberg surveys indicated a deterioration in consumers' perception of the current economic situation.
All three measures remain below their prerecession levels but have improved significantly since the summer of 2011.
Additional detail:
- The present conditions components of the Conference Board and Reuters/University of Michigan survey utilize notably different survey questions. The Conference Board's Present Situation Index is based on consumers' perception of local business conditions and local availability of jobs. The Reuters/University of Michigan Current Conditions survey asks about attitudes toward big-ticket purchases and if personal finances have improved over the past year. The Bloomberg Consumer Comfort survey is something of a hybrid, probing consumers about their perceptions of the current state of the national economy, their personal finances, and the buying climate.