U.S. consumer confidence increased slightly in April, but expectations for future conditions remain subdued compared to the pandemic period, according to data released by the Conference Board on Apr. 28.
The Consumer Confidence Index rose to 92.8 in April from 92.2 in March. The index is based on a monthly survey that gauges consumers’ outlook on their finances and the broader economy, with a benchmark of 100 indicating neutrality; any number below that suggests pessimism and possible reduced spending.
“Consumer confidence edged up in April but was overall little changed, despite material concern about rising gasoline prices as the war in the Middle East prompted a surge in Brent crude oil prices,” said Dana M Peterson, chief economist at The Conference Board. Peterson also said, “Consumer appraisals of current and expected business conditions declined moderately compared to last month.” She continued: “This was offset by modest improvements in consumers’ perceptions of the labor market, both current and expected, as well as income expectations, which were slightly more optimistic in April.”
The Present Situation Index—a sub-index measuring assessments of current business and labor market conditions—fell by 0.3 points to 123.8 but remained positive overall. The Expectations Index—which tracks short-term outlooks for income, business activity, and employment—rose by 1.2 points to reach 72.2; economists often view readings below 80 as indicative of recession risk.
A two-week ceasefire related to conflict involving Iran and an improvement in stock markets coincided with the survey period (April 1–22), which may have eased financial concerns somewhat after volatility seen earlier this year.
The New Jersey Business and Industry Association serves as the nation’s largest statewide employer association representing employers across various sectors according to its official website. It advances competitive excellence and financial success for its members while delivering essential information and services according to its official website. Michele Siekerka serves as president and chief executive officer according to its official website. The association represents private-sector employers throughout New Jersey according to its official website, facilitates partnerships among businesses, government entities, and academic institutions according to its official website, and offers advocacy along with practical information aimed at supporting business prosperity according to its official website.
