{"id":504,"date":"2023-04-25T23:03:08","date_gmt":"2023-04-26T04:03:08","guid":{"rendered":"https:\/\/enjoyingthisjourney.com\/us-consumer-confidence-falls-in-april-as-pessimism-grows-about-business-and-labor-market-conditions\/"},"modified":"2023-04-25T23:03:08","modified_gmt":"2023-04-26T04:03:08","slug":"us-consumer-confidence-falls-in-april-as-pessimism-grows-about-business-and-labor-market-conditions","status":"publish","type":"post","link":"https:\/\/enjoyingthisjourney.com\/us-consumer-confidence-falls-in-april-as-pessimism-grows-about-business-and-labor-market-conditions\/","title":{"rendered":"US Consumer Confidence Falls in April as Pessimism Grows about Business and Labor Market Conditions"},"content":{"rendered":"
Consumer confidence in the US fell to 101.3 in April from 104 in March, according to data released by The Conference Board on Tuesday.[0]<\/a><\/sup> The drop in the consumer confidence index, which measures attitudes towards the economy and the job market, has been driven by a growing pessimism about the short-term outlook for business and labour market conditions.[1]<\/a><\/sup> The Expectations Index, based on consumers\u2019 short-term outlook for income, business, and labour market conditions, fell to 68.1 from 74.0, marking the lowest level since July 2022.[2]<\/a><\/sup> The decline in confidence was particularly pronounced among consumers under 55 years of age and households earning over $50,000.[3]<\/a><\/sup> However, the Present Situation Index, based on consumers\u2019 assessment of current business and labour market conditions, rose slightly from 148.9 to 151.1.[4]<\/a><\/sup> Overall purchasing plans for homes, autos, appliances, and vacations all pulled back in April, a signal that consumers may be economising amid growing pessimism, said Ataman Ozyildirim, senior director, economics at The Conference Board.[5]<\/a><\/sup> Meanwhile, inflation expectations over the next year have remained unchanged at 6.2%, down from the peak of 7.9% that was reached last year.[6]<\/a><\/sup><\/p>\n 0. <\/span>“US: CB Consumer Confidence Index declines to 101.3 in April from 104 in March” FXStreet, 25 Apr. 2023, https:\/\/www.fxstreet.com\/news\/us-cb-consumer-confidence-index-declines-to-1013-in-april-from-104-in-march-202304251408<\/a><\/p>\n 1. <\/span>“Americans are getting worried about the job market” WENY-TV, 25 Apr. 2023, https:\/\/www.weny.com\/story\/48783039\/americans-are-getting-worried-about-the-job-market<\/a><\/p>\n 2. <\/span>“US Consumer Confidence Dips to Lowest Since July as Outlook Dims” Yahoo Finance, 25 Apr. 2023, https:\/\/finance.yahoo.com\/news\/us-consumer-confidence-dips-lowest-144514565.html<\/a><\/p>\n 3. <\/span>“U.S. Consumer Confidence Worsened in April on Gloomier Economic Expectations” Morningstar, 25 Apr. 2023, https:\/\/www.morningstar.com\/news\/dow-jones\/202304258620\/us-consumer-confidence-worsened-in-april-on-gloomier-economic-expectations<\/a><\/p>\n 4. <\/span>“Consumer Confidence Sinks as Recession Headwinds Grow, USD Gains on Risk-off Mood” DailyFX, 25 Apr. 2023, https:\/\/www.dailyfx.com\/news\/consumer-confidence-sinks-as-recession-risks-grow-usd-gains-on-risk-off-mood-20230425.html<\/a><\/p>\n 5. <\/span>“The Conference Board: U.S. consumer confidence down in April” UPI News, 25 Apr. 2023, https:\/\/www.upi.com\/Top_News\/US\/2023\/04\/25\/consumer-confidence-conference-board-recession\/9481682437722\/<\/a><\/p>\n