- An index of U.S. consumer attitudes increased in April.
- Consumer confidence fell in the previous reading, breaking a two-month streak of gains.
- Consumers’ short-term expectations for their incomes also improved in April.
An index of U.S. consumer attitudes increased in April, recovering from a fall in March.
The Conference Board’s measure of consumer confidence increased to 128.7 in April, up from 127 the prior month.
The April reading beat a forecast from Reuters analysts, who expected the index to slip further to 126.
Consumer confidence fell in March, breaking a two-month streak of gains.
“Consumers’ assessment of current conditions improved somewhat, with consumers rating both business and labor market conditions quite favorably,” said Lynn Franco, the Conference Board’s director of economic indicators, in a statement.
Consumers’ short-term expectations for their incomes also improved, Franco said.
The index takes into account Americans’ views of current economic conditions and their expectations for the next six months. Economists pay close attention to the numbers because consumer spending accounts for about 70 percent of U.S. economic activity.
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