Consumer Confidence Slips In April As Economic Optimism Fades
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Consumer confidence in the U.S. economy lagged in April, signaling a drop in optimism after March's strong numbers, which reached the highest levels since December 2000.
The Conference Board Consumer Confidence Index stood at 124.9 in March and dropped to 120.3 in April, with consumer confidence in both present and future expectations falling several points. Conference Board director of economic indicators Lynn Franco said consumers are still confident the economy will expand despite growing less optimistic about short-term business, employment and income prospects.
Only 23% of consumers expect robust job gains in the coming months, down from 23.8% in March; 24.8% of consumers expect business conditions to improve throughout the next six months compared to 26.9% in March.