A 2023 Cooper Clubman S sports-utility vehicle is displayed on the showroom floor of a Mini dealer on Thursday, April 20, 2023, in Highlands Ranch, Colo. On Tuesday, the Conference Board reports on U.S. consumer confidence for April. (AP Photo/David Zalubowski)
Consumer confidence dipped again in April as anxiety over a slowing economy and possible recession weighed on American households.
The Conference Board reported Tuesday that its consumer confidence index fell to 101.3 in April from 104 in March.
Optimism about current conditions ticked up again, although consumers are less positive about the short-term future.
The index remains below 2022’s average level of 104.5.
The business research group’s present situation index – which measures consumers’ assessment of current business and labor market conditions – inched up to 151.1 from 148.9 last month.
The board’s expectations index – a measure of consumers’ six-month outlook for income, business and labor conditions – fell to 68.1 this month from 74 in March. A reading under 80 often signals a recession in the coming year. The Conference Board noted that reading has come in below 80 every month but one since February of 2022.
