Consumer confidence took a turn for the worse in March as consumers, including free-spending singles, showed increasing concern about their employment and income prospects over the next six months, two government surveys showed Monday.
The surveys, conducted by the Cabinet Office, show that the consumer confidence index as of March 15 had dropped 2.8 percentage points to 40.2 on a seasonally adjusted basis, from 43 in the previous survey in December, the second consecutive fall.
The latest survey shows that the consumer confidence index for single-person households, which has been buoyant, fell for the first time in nine quarters, dipping 1.1 points to 42.7.