US Consumer Confidence Falls in April More than Expected

Consumers’ assessment of current economic conditions fell in April, as fewer people believe business conditions are “good,” according to the latest data from The Conference Board.

The Consumer Confidence Index dropped to 120.3 in April, while economists were expecting the index to only fall to 122.9 for the month, according to Thomson Reuters consensus estimates.



The closely monitored index last hit 125.6 in March, its highest level since December 2000. Prior to that, the index stood at 116.1 in February.

“Consumer confidence … still remains at strong levels,” Lynn Franco, director of economic indicators at The Conference Board, said in a statement on Tuesday. “Consumers assessed current business conditions and, to a lesser extent, the labor market less favorably [in April] than in March.”

“Looking ahead, consumers were somewhat less optimistic about the short-term outlook for business conditions, employment and income prospects,” Franco added.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza