US consumer confidence dropped for the fourth consecutive month in March, reaching its lowest future outlook in 12 years, according to the Conference Board.
The overall index fell 7.2 points to 92.9, missing predictions of 94.0. The Present Situation Index, which measures current business and job conditions, dropped to 134.5.
The Expectations Index, which reflects future economic outlook, fell to 65.2—far below the 80 mark that often signals a recession.
Many households feel uncertain about jobs, income and business conditions, raising economic concerns.