The Conference Board’s Consumer Confidence Index slipped slightly in April.
The Index is now at 94.2, down from 96.1 in March. While the present situation index rose to 116.4 from 114.9, the expectations index fell to 79.3 from 83.6.
Lynn Franco, director of economic indicators at The Conference Board, said, “Consumer confidence continued on its sideways path, posting a slight decline in April, following a modest gain in March.”
She said that while consumers’ assessments of current conditions improved, suggesting no slowing in economic growth, their expectations six months out suggests that “they do not foresee any pickup in momentum.”
Consumers’ appraisal of the labor markets were mixed, with those claiming jobs are “plentiful” dipping to 24.1 percent from 25.4 percent, and those stating that jobs are “hard to get” also falling to 22.7 percent from 25.2 percent. They were also less optimistic on a short-term basis, with those who said they expect more jobs in the months ahead down to 12.2 percent from 13 percent, and those who project fewer jobs rising to 17.2 percent from 16.3 percent.
In addition, the proportion of consumer who expect their incomes to rise fell to 15.9 percent from 16.9 percent, with those expecting a reduction in income also declining, to 11.2 percent from 12.3 percent.