US Consumer Confidence Falls for 3rd Time in 4 Months
Consumer confidence dipped again in April as anxiety over a slowing economy and possible recession weighed on American households, according to an Associated Press report.
The Conference Board reported Tuesday that its consumer confidence index fell to 101.3 in April from 104 in March. It’s the third time in four months that overall U.S. consumer confidence has declined.
Optimism about current economic conditions ticked up again, although consumers are less positive about the short-term future.
The index remains below 2022’s average level of 104.5.
The business research group’s present situation index — which measures consumers’ assessment of current business and labor market conditions — inched up to 151.1 from 148.9 last month.
The board’s expectations index — a measure of consumers’ six-month outlook for income, business and labor conditions — fell to 68.1 this month from 74 in March. A reading under 80 often signals a recession in the coming year. The Conference Board noted that reading has come in below 80 every month but one since February of 2022.