Expectations fall to lowest level in nearly two years.April Results
The Conference Board's Consumer Confidence Index Consumer Confidence Index
A measure of consumer views regarding the current economic situation and consumer expectations for the future. Information for the index is compiled and released on the last Tuesday of each month by the Conference Board, an , which had declined in March, lost more ground in April. The Index now stands at 97.7 (1985=100), down from 103.0 in March. The Present Situation Index decreased to 113.6 from 117.0. The Expectations Index declined to 87.2 from 93.7 last month.
The Consumer Confidence Survey is based on a representative sample of 5,000 U.S. households. The monthly survey is conducted for The Conference Board by TNS TNS
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NFO National Family Opinion . TNS NFO is one of the TNS group of companies (LSE LSE - Language Sensitive Editor : TNN TNN The National Network (formerly The Nashville Network)
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TNN The Nerd Network (online gaming clan) ). The cutoff date for April's preliminary results was April 19th.
Consumers rated current conditions as less favorable in April than in March. Although the percentage claiming business conditions are "good" edged up to 27.0 percent from 26.3 percent, those claiming conditions are "bad" increased to 17.7 percent from 15.8 percent in March. The employment picture was also somewhat mixed. Consumers saying jobs are "hard to get" declined to 23.3 percent from 23.8 percent, but those claiming jobs are "plentiful" declined to 20.4 percent from 21.8 percent.
Consumers' short-term outlook declined in April for the fourth consecutive time. Those anticipating business conditions to improve fell to 17.8 percent from 19.3 percent, while consumers expecting business conditions to worsen wors·en
tr. & intr.v. wors·ened, wors·en·ing, wors·ens
To make or become worse.
to make or become worse
worsening adjn increased to 9.7 percent from 8.2 percent. The outlook for the labor market labor market A place where labor is exchanged for wages; an LM is defined by geography, education and technical expertise, occupation, licensure or certification requirements, and job experience also softened in April. The percentage of consumers expecting more jobs to become available in the coming months slipped to 14.2 percent from 15.1 percent, while those expecting fewer jobs rose to 18.0 percent from 15.8 percent last month. The proportion of consumers anticipating their incomes to improve in the months ahead edged down to 16.3 percent from 17.2 percent last month.
Less robust current conditions and a more cautious outlook have consumers feeling less confident in April than in March. Despite the decline, the Present Situation Index remains at levels indicative of a healthy economy. However, the Expectations Index is now at its lowest level since July 2003 when it registered 86.3. Looking ahead, consumers do not anticipate an improvement in economic growth nor in their incomes. And, they expect an even tighter job market over the summer months.