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Consumer confidence stabilized in March

After three months of declines, including an all-time low in February, the Consumer Confidence Index was relatively unchanged in March, according to the latest report from The Conference Board.

The index now stands at 26, up from 25.3 in February. The Present Situation Index declined to 21.5 from 22.3 last month. The Expectations Index increased to 28.9 from 27.3 in February.

"The Present Situation Index suggests that the overall state of the economy remains weak and that more job losses are on the horizon," said Lynn Franco, director of The Conference Board's Consumer Research Center, in a statement.

"Apprehension about the outlook for the economy, the labor market and earnings continues to weigh heavily on consumers' attitudes," she added. "Looking ahead, consumers remain extremely pessimistic about the short-term future and do not foresee a turnaround in economic conditions over the coming six months."

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