NEW YORK—The Conference Board Consumer Confidence Index, conducted by Nielsen, showed increases in both the Present Situation Index and the Expectations Index, which helped bring the Index to 68.1 for April. The monthly Consumer Confidence Survey showed that consumers’ assessment of the labor market is mixed, with increases in both those claiming jobs are “plentiful” and “hard to get.”
The Index also indicates that consumers are considerably more upbeat about the short-term outlook in April. The percentage of consumers expecting business conditions to improve over the next six months increased to 16.9 percent from 15.0 percent, while those anticipating business conditions to worsen decreased to 15.1 percent from 17.7 percent.
“Consumer Confidence improved in April, as consumers’ expectations about the short-term economic outlook and their income prospects improved. However, consumers’ confidence has been challenged several times over the past few months by such events as the fiscal cliff, the payroll tax hike and the sequester,” says Lynn Franco, director of Economic Indicators at The Conference Board. “Thus, while expectations appear to have bounced back, it is too soon to tell if confidence is actually on the mend.”
Further information about the Consumer Confidence Index and The Conference Board can be found here.