For April, The Conference Board has reported that its Consumer Confidence Index improved after decreasing in March.
The Index now stands at 129.2 versus its 100 point 1982 baseline and up from 124.2 in March. The Present Situation Index— based on consumer assessment of current business and labor market conditions— increased to 168.3 in April from 163 in the month before. The Expectations Index— based on the consumer short-term outlook for income, business and labor market conditions— increased to 103 from 98.3 in March.
“Consumer confidence partially rebounded in April, following March’s decline, but still remains below levels seen last Fall,” said Lynn Franco, Conference Board senior director of economic indicators. “The Present Situation Index, which had decreased sharply last month, improved in April, as did consumers’ short-term outlook. Overall, consumers expect the economy to continue growing at a solid pace into the summer months. These strong confidence levels should continue to support consumer spending in the near-term.”