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- U.S. consumer confidence index drops to 95.2 in April
U.S. consumer confidence index drops to 95.2 in April
The Conference Board released its consumer confidence index for the U.S. on Tuesday. The index dropped to 95.2 in April from 101.4 in March, missing expectations for a rise to 102.6. March's figure was revised up from 101.3.
It was the lowest level since December 2014.
The increase was driven by the weaker outlook for the labour market and business conditions. The percentage of consumers expecting more jobs in the coming months declined to 13.8% in April from 15.3% in March.
The percentage of consumers expecting business conditions to improve over the next six months fell to 16.0% in April from 16.8% in March.
"This month's retreat was prompted by a softening in current conditions, likely sparked by the recent lackluster performance of the labor market, and apprehension about the short-term outlook," the director of economic indicators at The Conference Board, Lynn Franco, said.
The Conference Board's consumer expectations index for the next six months decreased to 87.5 in April from 96.0 in March.
The present conditions index plunged to 106.8 in April from 109.5 in March. It was the consecutive decline.
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