The Consumer Confidence Index was 92.8 in April, up from 92.2 the previous month, the Conference Board said. The present situation index — based on consumers’ assessment of current business and labor market conditions — decreased by 0.3 points to 123.8. The expectations index — based on consumers’ short-term outlook for income, business and labor market conditions — rose by 1.2 points to 72.2.
“Consumer confidence edged up in April but was overall little changed, despite material concern about rising gasoline prices as the war in the Middle East prompted a surge in Brent crude oil prices,” said Dana Peterson, chief economist for the Conference Board. “Consumer appraisals of current and expected business conditions declined moderately compared to last month. This was offset by modest improvements in consumers’ perceptions of the labor market, both current and expected, as well as income expectations, which were slightly more optimistic in April.”
