2023-04-25 15:09:37
US consumer confidence fell once more in April as concerns regarding a slowing economy and possible recession weighed on US households.
The Conference Board of the United States said Tuesday that its index of consumer confidence fell to 101.3 points in April, following settling at 104 points in March.
Optimism over current conditions increased, although consumers were less positive regarding the short-term future.
The index remains below its average level for 2022, i.e. 104.5 points.
The business research group’s Current Situation Index — which measures consumers’ assessment of current business and labor market conditions — rose to 151.1 points from 148.9 points last month.
The Conference Board’s Expectations Index — which measures consumers’ six-month outlook for income, business and working conditions — fell to 68.1 points in April from 74.0 points in March. A reading below 80 points often signals a recession in the coming year. The Conference Board pointed out that this reading has been below the 80-point mark in all but one month since February 2022.
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