Financial News: U.S. Consumer Confidence Index Drops To Lowest Level

U.S. Consumer Confidence Index Drops To Lowest Level Since July 2022

04/30/2024 - 10:23:00 (RTTNews)

(RTTNews) - A report released by the Conference Board on Tuesday showed consumer confidence in the U.S. deteriorated by much more than expected in the month of April.

The Conference Board said its consumer confidence index slid to 97.0 in April from a downwardly revised 103.1 in March. Economists had expected the index to dip to 140.0 from the 104.7 originally reported for the previous month.

"Confidence retreated further in April, reaching its lowest level since July 2022 as consumers became less positive about the current labor market situation, and more concerned about future business conditions, job availability, and income," said Dana M. Peterson, Chief Economist at The Conference Board.

She added, "Despite April's dip in the overall index, since mid-2022, optimism about the present situation continues to more than offset concerns about the future."

The report said the present situation index declined to 142.9 in April from a downwardly revised 146.8 in March.

Meanwhile, the expectations index fell to 66.4 in April from a slightly upwardly revised 74.0 in the previous month.

"According to April's write-in responses, elevated price levels, especially for food and gas, dominated consumer's concerns, with politics and global conflicts as distant runners-up," said Peterson.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

RBA Minutes On Tap For Tuesday (05 hr(s), 10 min(s), 58 sec(s) ago)
(RTTNews) - The Reserve Bank of Australia will on Tuesday release the minutes from its May 7 monet ...Full Story»

BoE's Broadbent Says Rate Cut Possible Some Time Over Summer (13 hr(s), 56 min(s), 58 sec(s) ago)
(RTTNews) - Bank of England's Deputy Governor Ben Broadbent said the interest rate could be cu ...Full Story»

Czech Producer Prices Rise 1.4% (14 hr(s), 21 min(s), 58 sec(s) ago)
(RTTNews) - The Czech Republic's industrial producer prices increased for the first time in fo ...Full Story»

Thailand GDP Growth Exceeds Expectations (14 hr(s), 44 min(s), 58 sec(s) ago)
(RTTNews) - Thailand's economy grew more than expected in the first quarter, driven by househo ...Full Story»

Hong Kong Jobless Rate Stable At 3.0% (16 hr(s), 04 min(s), 58 sec(s) ago)
(RTTNews) - Hong Kong's unemployment rate held steady in the February-April period, labour for ...Full Story»

Italy Construction Output Falls 1.9% (18 hr(s), 15 min(s), 58 sec(s) ago)
(RTTNews) - Italy's construction output decreased for the second straight month in March, acco ...Full Story»

China Keeps Lending Rates Unchanged As Expected (18 hr(s), 46 min(s), 58 sec(s) ago)
(RTTNews) - China central bank retained its benchmark lending rates as expected on Monday after th ...Full Story»

Taiwan Export Orders Surge 10.8%, More Than Forecast (18 hr(s), 51 min(s), 58 sec(s) ago)
(RTTNews) - Taiwan's export orders increased for the second straight month in April and at a f ...Full Story»