Consumer Confidence Improves in March

Consumer confidence grew this month after falling last month to the lowest level since April 2009, the New York-based Conference Board reported.

The index increased to a reading of 52.5 in March from a revised 46.4 in February. The reading was higher than economists’ forecasts of a 51 reading, Reuters reported.

An improvement in confidence may increase consumer spending, which accounts for 70% of the economy.