The Consumer Confidence Index was 86 in April, down from 93.9 in March, the Conference Board said. The present situation index — based on consumers’ assessment of current business and labor market conditions — declined 0.9 points from the previous month to 133.5. The expectations index — based on consumers’ short-term outlook for income, business and labor market conditions — fell 2.5 points to 54.4.
“Consumer confidence declined for a fifth consecutive month in April, falling to levels not seen since the onset of the COVID pandemic,” said Stephanie Guichard, senior economist, global indicators at the Conference Board. “The decline was largely driven by consumers’ expectations. The three expectation components — business conditions, employment prospects and future income — all deteriorated sharply, reflecting pervasive pessimism about the future.”
