Consumer Confidence Rises in March

<?xml:namespace prefix = o />Consumer confidence rose in March but remained near a record low, the Conference Board said Tuesday.

The New York-based group’s monthly index rose to a reading of 26 this month, from a revised 25.3 in February, the lowest reading since such records began in 1967.

Economists had forecast that the reading would rise to 28, Bloomberg said.

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.