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Consumer confidence edges down in April

April 29 2014

The Conference Board’s U.S. consumer confidence index edged down in April after increasing in March. The index now stands at a reading of 82.3 (1985=100), down from 83.9 in March.

“Consumer confidence declined slightly in April, as consumers assessed current business and labor market conditions less favorably than in March,” said Lynn Franco, director of economic indicators at The Conference Board.

“However, their expectations regarding the short-term outlook for the economy and labor market held steady,” said Franco. “Thus, while sentiment regarding current conditions may have slipped a bit, consumers do not foresee the economy, or the labor market, losing the momentum that has been building up over the past several months.”

The number of consumers anticipating more jobs in the months ahead increased to 15.0 percent in April from 14.1 percent in March, according to the index’s survey, while those expecting fewer jobs edged up to 17.9 percent from 17.5 percent. Those saying jobs are “plentiful” fell to 12.9 percent from 13.8 percent, while those saying jobs are “hard-to-get” increased to 32.5 percent from 31.4 percent.

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