LOC18:58
15:58 GMT
WASHINGTON, April 25 (KUNA) -- The US Consumer Confidence Index recorded a drop in April following a sharp increase over the past two months, official data showed Tuesday.
The Conference Board Consumer Confidence Index reached 120.3 this month, compared to 124.9 in March, but still remains at "strong levels."
The Present Situation Index decreased from 143.9 to 140.6 and the Expectations Index declined from 112.3 last month to 106.7.
Director of Economic Indicators at the Conference Board Lynn Franco said in this regard, "looking ahead, consumers were somewhat less optimistic about the short-term outlook for business conditions, employment and income prospects."
He added that "despite April's decline, consumers remain confident that the economy will continue to expand in the months ahead."
According to the report, consumers were "less optimistic" about the short-term outlook in April. The percentage of consumers expecting business conditions to improve over the next six months decreased from 26.9 percent to 24.8 percent, while those expecting business conditions to worsen rose from 8.5 percent to 10.9 percent.
Consumers' outlook for the labor market was also "less upbeat." The proportion expecting more jobs in the months ahead declined from 23.8 percent to 23.0 percent, while those anticipating fewer jobs increased from 12.7 percent to 13.1 percent. (end)
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