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The corona
crisis and the
Wednesday
April 1, 2020 horeca
T: 582-7800
www.arubatoday.com
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A
Aruba’s ONLY English newspaper ruba’s ONLY English newspaper Page 31
US consumer confidence sinks as virus begins having impact

By MARTIN CRUTSINGER
AP Economics Writer
WASHINGTON (AP) — U.S. consumer confidence tum-
bled this month to its lowest level in nearly three years
as the impact of the coronavirus on the economy be-
gan to be felt.
The Conference Board reported Tuesday that its con-
fidence index dropped to a reading of 120 in March
from February’s 132.6. It was the lowest reading since
the index was at 117.3 in June 2017. Both a sub-index
the covers consumers’ view of current business and
job market conditions and another sub-index that co-
vers expectations of future conditions fell in March.
The steep decline in the index this month reflected
rising worries about the coronavirus during the survey
period of March 1-18. Confidence is sure to fall further
as the virus’ impact takes a bigger toll on the eco-
nomy. The dining section is closed off at East Side Pockets, a small restaurant near Brown University, Wednes-
Analysts said the sharp drop in the confidence index day, March 25, 2020, in Providence, R.I. President Donald Trump wants the country open for business
reflects rising concerns about the damage the virus by mid-April, but some experts warn it’s not as easy as flipping a switch: Economies run on confidence,
will cause and about the sharp declines in stock mar- and that is likely to be in short supply for as long as coronavirus cases in the United States are still rising.
kets. (AP Photo/David Goldman) Associated Press
Continued on Page 25 Associated Press