Consumer Confidence Slips in April
April 27, 2016,
NEW YORK-Continuing on what Lynn Franco, director of economic indicators at The Conference Board, described as “a sideways path,” the consumer confidence index fell 1.9 points in April to 94.2, after posting a modest gain in March.
The present situation index gained 1.5 points to 116.4, while the expectations index dropped 4.3 points to 79.3. “Consumers’ assessment of current conditions improved, suggesting no slowing in economic growth,” Franco said. “However, their expectations regarding the short-term have moderated, suggesting they do not foresee any pickup in momentum.”
The Conference Board derives the monthly indicator based on a survey of consumers conducted for the organization by Nielsen. In that survey, the percentage of consumers who rated current business conditions as “good” declined, but so did the percentage of consumers who saw current business conditions as “bad.” Similarly, the percentage of consumers who say jobs are now “plentiful” decreased, but so did the percentage of consumers who said jobs are “hard to get.”
Also looking ahead, the percentage of consumers who expect their incomes to grow in the next six months fell. However, the percentage of those expecting incomes to fall decreased as well.