Conference Board: confidence rises to 92.8
- The Conference Board said its U.S. Consumer Confidence Index rose to 92.8 in April, beating forecasts after March was revised up to 92.2. - The gain came from expectations, which rose to 72.2, while the present-situation measure slipped to 123.8 and one-year inflation expectations eased to 6.1%. - Confidence has risen three straight months but remains near pandemic-era lows, with gasoline and war worries still prominent. (conference-board.org)
U.S. consumer confidence ticked up in April, with the Conference Board’s index rising to 92.8 from a revised 92.2 in March. (conference-board.org) Economists surveyed by Reuters had expected the index to fall to 89.0, so the April reading came in stronger than forecast. (reuters.com) The improvement was driven by the Expectations Index, which rose 1.2 points to 72.2, while the Present Situation Index slipped 0.3 points to 123.8. (conference-board.org) Dana Peterson, the Conference Board’s chief economist, said consumers were more upbeat about future business conditions, income and hiring, even as views of current conditions softened. (conference-board.org) The survey period ran from April 1 through April 22, covering a temporary ceasefire in the Middle East and a rebound in U.S. stocks. (conference-board.org) (reuters.com) Even with the April increase, the headline measure remains near its weakest levels since the COVID-19 pandemic, according to the Conference Board and Associated Press. (conference-board.org) (apnews.com) Consumers’ write-in responses still skewed negative in April, with repeated mentions of high prices, gasoline, oil and the war with Iran. (conference-board.org) (apnews.com) The Conference Board said average 12-month inflation expectations edged down to 6.1% from 6.2%, but that still leaves households expecting faster price growth than the Federal Reserve wants. (conference-board.org) (pnc.com) The index has now risen for three straight months, but the gains have been small: 91.8 in February, 92.2 in March after revision, and 92.8 in April. (conference-board.org) That leaves a familiar picture: Americans feel somewhat better about the next few months than they do about the economy right now. (conference-board.org)
