U.S. consumer confidence fell again in April as concerns about a slowing economy and possible recession weighed on U.S. households.
The Conference Board of the United States said on Tuesday that its consumer confidence index fell to 101.3 points in April, after standing at 104 points in March.
Optimism about current conditions has increased, although consumers were less positive about the near-term future.
The index remains below its average level for 2022, i.e. 104.5 points.
The business research group’s Current Situation Index — which measures consumers’ assessment of current business and labor market conditions — advanced to 151.1 points from 148.9 points last month.
The Conference Board’s Expectations Index — which measures consumers’ six-month outlook for income, business and working conditions — fell to 68.1 points in April from 74.0 points in March. A reading below 80 points often signals a recession in the coming year. The Conference Board pointed out that this reading has been below the 80-point mark in all but one month since February 2022.
