Click to enlarge

The Conference Board Consumer Confidence Index, which had declined sharply in February, plummeted in March to 64.5 (1985=100), down from 76.4 in February, and is at a five-year low (March 2003, 61.4), according to the Conference Board, writes MarketingCharts.

The Expectations Index declined to 47.9 from 58.0 - a 35-year low (Dec. 1973, 45.2), "levels not seen since the Oil Embargo and Watergate," said Lynn Franco, director of The Conference Board Consumer Research Center.

The Present Situation Index decreased to 89.2 from 104.0, implying that "the pace of growth in recent months has weakened even further," she said.

• Consumers' assessment of present-day conditions weakened further in March: Those claiming business conditions are "bad" increased to 25.4 percent from 21.3 percent in February; those claiming business conditions are "good" declined to 15.4 percent from 19.1 percent.

MarketingCharts has more findings from the March Consumer Confidence Survey.