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The Conference Board’s consumer confidence index rose in April to a reading of 65.4 following a fall in March to 63.8 (1985=100).
“Consumer confidence, which had declined sharply in March, posted a modest gain in April,” said Lynn Franco, director of consumer research at The Conference Board. “Consumers’ short-term outlook improved slightly, suggesting that the uncertainty expressed last month is easing. Inflation expectations, which had spiked, retreated somewhat in April. Although confidence remains weak, consumers’ assessment of current conditions gained ground for the seventh straight month, a sign that the economic recovery continues.”
The percentage of consumers saying jobs are “hard to get” fell to 41.8 percent in April from 44.4 percent in March. Those stating jobs are “plentiful” rose to 5.2 percent from 4.6 percent.
The consumer confidence index is based on a survey that includes a sample of 5,000 U.S. households.