Consumers are feeling less upbeat about the economy this month amid a slowdown in job creation and worries about the near-term outlook.
The Wall Street Journal reported that the Conference Board, a private research group, said its index of consumer confidence decreased to 95.2 in April from a revised 101.4 in March, which had been first reported as 101.3.
The present situation index, a gauge of consumers’ assessment of current economic conditions, fell to 106.8 from a revised 109.5, first set at 109.1. And consumer expectations for economic activity over the next six months dropped to 87.5 from an unrevised 96.0.
“Consumer confidence, which had rebounded in March, gave back all of the gain and more in April,” said Lynn Franco, director of economic indicators at the board. “Coupled with waning expectations, there is little to suggest that economic momentum will pick up in the months ahead.”
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