Consumer Confidence Receded in April

The Conference Board Consumer Confidence Index decreased to 120.3 in April, down 4.6 points from March. The Present Situation Index fell 3.3 points to 140.6, while the Expectations Index declined 5.6 points to 106.7.

“Consumer confidence declined in April after increasing sharply over the past two months, but still remains at strong levels,” said Lynn Franco, Director of Economic Indicators at The Conference Board. “Consumers assessed current business conditions and, to a lesser extent, the labor market less favorably than in March. Looking ahead, consumers were somewhat less optimistic about the short-term outlook for business conditions, employment and income prospects. Despite April’s decline, consumers remain confident that the economy will continue to expand in the months ahead.”

Consumers’ labor market outlook was less upbeat during April. The percentage of consumers expecting more jobs in the coming months decreased from 23.8% to 23.0%, while the share anticipating fewer jobs increased from 12.7% to 13.1%. Income expectations also fell, as 19.3% of consumers expected their incomes to increase in coming months, down from 22.5% March.

Read the Conference Board release.