The Conference Board Consumer Confidence Index, which had rebounded in March, increased further in April and now stands at 57.9 (1985=100), up from 52.3 in March—and at its highest reading since Sept. 2008 (61.4), the Conference Board reported.
The Present Situation Index increased to 28.6 from 25.2 last month, and the Expectations Index improved to 77.4 from 70.4 in March, the Consumer Confidence Survey found.
"Consumers' concerns about current business and labor market conditions eased again. And, their outlook regarding business conditions and the labor market was also more positive than last month. Looking ahead, continued job growth will be key in sustaining positive momentum," said Lynn Franco, director of The Conference Board Consumer Research Center. Other findings:
- Consumers' appraisal of present-day conditions was more positive in April. Those claiming conditions are "good" increased to 9.1% from 8.5% in March, while those claiming business conditions are "bad" declined to 40.2% from 42.1%.
- Consumers' appraisal of the labor market also improved. Those saying jobs are "plentiful" increased to 4.8% from 4.0% last month, while those saying jobs are "hard to get" decreased to 45.0% from 46.3%.
- Consumers' outlook was also brighter in April. The percentage of consumers expecting business conditions to improve over the next six months increased to 19.8% from 18.0% in March, while those expecting that conditions will worsen declined to 12.6% from 13.6%.
- Consumers were also more optimistic about the job outlook. The percentage of consumers anticipating more jobs in the months ahead increased to 18.0% from 14.1% last month, while those anticipating fewer jobs declined to 20.0% from 21.4%. The proportion of consumers anticipating an increase in their incomes declined to 10.3% from 10.8%.
About the data: The Consumer Confidence Survey is based on a representative sample of 5,000 US households. The monthly survey is conducted for The Conference Board by TNS. The cutoff date for April's preliminary results was April 20.
