US Consumer Confidence Shows Modest Improvement in March

US consumer confidence increased to 104.2 in March, beating economists' expectations of 101, according to the Conference Board's latest report. The Expectations Index rose to 73 from 70.4 in February, while the Present Situation Index dipped to 151.1 from 153. The survey was conducted after the closure of Silicon Valley Bank. Consumers' expectations of inflation over the next 12 months remain elevated at 6.3%. Respondents said they planned to spend less on activities such as gambling, amusement park and museum visits, travel and the movies, while spending on health care, household maintenance, and car repair is expected to increase.