Sentiment pulls back sharply in March

07 April 2025

Please note that survey responses were collected from the period of March 10-21, 2025.

The current conditions component sharply declined to 21.4, following a previous value of 61.5 in February. Panel members reported a more negative outlook, with only 7 percent indicating that current conditions were “better,” down from 38 percent last month. Nearly two-thirds of respondents, 64 percent, felt conditions were “worse,” while 29 percent considered them “unchanged.” Panelists continued to express concerns about the ongoing uncertainty surrounding the administration’s potential tariffs impact on their business, which is contributing to the overall pessimistic view. Click here for the complete March 2025 report.