Consumer Confidence Index (the one that matters) Declines

The Conference Board's index of consumer confidence fell in March. What is noteworthy for those following the economy is that the current conditions index dropped by 3.5 points to 57.9. This component is the one that actually tracks current consumption reasonably closely, so it is giving us information about the economy.

By contrast the future expectations components is highly erratic and bears little relationship to actual consumption patterns. Reporters generally don't make a point of disti...