Consumer Confidence Jumps in March

.S. consumer confidence rose this month following a three-month low in February, the Conference Board said Tuesday.

The board’s index rose to 107.2 from a revised 102.7, the group said in its monthly report. February’s level had been originally reported as 101.7.

The level was well above economists’ estimates of a 102 reading, Bloomberg reported, and exceeded analysts' highest-level forecasts.

The consumer confidence index is a predictor of consumer spending. When people are feeling less confident about the economy, they are less likely to spend money, which decreases demand for trucking services.

The present-situation index rose to 133.3, the highest since August 2001, from 130.3 in February.

The gauge of consumer expectations for the next six months rose to 89.9 from 84.2.

Every month the Conference Board surveys 5,000 households on general economic conditions, their employment prospects and spending plans.