Economics

U.S. Consumer Confidence Surges to One-Year High on Job Optimism

Gauge of consumer expectations rose to highest since July 2019
More vaccinations, reopenings help boost consumer sentiment

Shoppers inside the Westfield San Francisco Centre shopping mall in San Francisco, on March 9.Photographer: David Paul Morris/Bloomberg

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By Payne Lubbers

March 30, 2021 at 2:03 PM UTC

Updated on

March 30, 2021 at 2:31 PM UTC

This article is for subscribers only.

U.S. consumer confidence rose in March to a one-year high as Americans grew more upbeat about the economy and labor market, a sign that household spending may pick up more broadly in the coming months.

The Conference Board’s index increased to 109.7 from a revised 90.4 reading in February, according to a report Tuesday. That was the sharpest one-month gain in nearly 18 years and exceeded the most optimistic forecast in a Bloomberg survey of economists.