Analyst: Consumer confidence signals are mixed, indicating that consumer conditions may be very fragile.

Benchmark analyst Todd Brooks stated in a research report that various data surrounding consumer confidence is a mixed bag. He pointed out that the University of Michigan Consumer Confidence Index dropped from 56.6 in February to 53.3 in March. Meanwhile, the Consumer Confidence Index of the World's Large Enterprises Research Association depicted a more resilient consumer landscape, increasing from 91 in February to 91.8 in March, despite ongoing wars and rising fuel prices. Brooks wrote, "The divergence between these two surveys highlights that the current economic reality may be supporting consumers' ability to maintain spending/consumption levels, but consumers' mindset may be fragile, especially as concerns about future inflation begin to materialize."