Foodservice Equipment Reports

Consumer Confidence Remained Strong In March

In spite of a small retreat in March, attributable mostly to harsh winter weather, consumer confidence for the first quarter of 2015 averaged 95.5, its strongest reading since 2004, according to the University of Michigan Surveys of Consumers. The UM Consumer Sentiment Index was 93 in the final March reading, down slightly from 95.4 at the end of February.

Blaming the slight slippage on harsh weather and the small rebound in gasoline prices, the research group’s Chief Economist Richard Curtin said, “Expanding job opportunities as well as more favorable wage gains have meant that consumer spending will strongly rebound during the balance of the year.”

While those surveyed said their current finances were a little less positive in March than in January and February, they were still judged more favorably than at any time in the prior eight years.

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