Business
Consumer confidence slid further in April
New York | May 09, 2008 12:01:13 AM IST
The U.S. Consumer Conference Board said Tuesday that its monthly index of consumer confidence declined further in April. After four months of declines, the index for April hit 62.3, falling from a March reading of 65.9. A year ago, the Consumer Confidence Index was above 105. The index was pulled down by the Present Situation Index, which fell from 90.6 in March to 80.7. The Expectations Index rose slightly on the month from 49.4 to 50.1. Director of the Conference Board Consumer Research Center Lynn Franco said the numbers suggest the feeble level of growth in the first quarter has continued. Looking ahead, consumers' outlook for the economy, the job market and their income prospects remains quite pessimistic, Franco said. (UPI)
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