Washington  - US consumer confidence edged up marginally in March after reaching an all-time low the month before, but housing prices continued to plummet, according to two private surveys released Tuesday.

The New York-based Conference Board said its gauge of consumer confidence rose 0.7 points to 26, pulling back from February's level, which was the lowest since records began, amid a deep recession in the United States.

Last month's level was the lowest since the index was created in 1967 and this month's slight increase marked the first rise since November.

Lynn Franco, director of research at the Conference Board, said the figure "suggests that the overall state of the economy remains weak and that more job losses are on the horizon."

The monthly consumer confidence survey is based on a sample of 5,000 US households.

"Apprehensions about the outlook for the economy, the labour market and earnings continues to weigh heavily on consumers' attitudes," Franco said.

"Looking ahead, consumers remain extremely pessimistic about the short-term future and do not forsee a turnaround in economic conditions over the next six months."

Indicating that the economy remains in a severe recession, home prices in 20 US cities fell 19 per cent in January from a year earlier and 2.8 per cent from December, as demand dropped and foreclosures increased, according to the S&P/Case-Shiller Index.

The gauge, which compares price changes when homes are resold, has fallen every month since January 2007.

The current financial crisis, caused by a collapse of the US housing market after a decade of growth, is considered the worst since the Great Depression of the 1930s. (dpa)