US consumer confidence declines unexpectedly in April
US consumer fell unexpectedly in April, as a slowdown in hiring and lower expectations on economic growth weighed on sentiment.
On Tuesday, the Conference Board said the index dropped from a revised 101.4 to 95.2 this month, reaching its lowest level since December and falling short of analysts’ expectations of a 102.5 reading.
The present situation index declined from 109.5 to 106.8, while the future expectations index slid from 96 to 87.5, the lowest reading since September.
"The present situation Index declined for the third consecutive month,” Lynn Franco, director of economic indicators at the Conference Board, said in a statement.
“Coupled with waning expectations, there is little to suggest that economic momentum will pick up in the months ahead."