Consumer Confidence Index Climbs Higher in April

The Conference Board, a non-partisan, not-for-profit think tank founded in 1916, released today (4-27-21) their Consumer Confidence Index® (CCI) for April 2021. The CCI climbed higher in April, this following a strong monthly gain in March. The Index now stands at 121.7 (1985=100), up from 109.0 in March. The Present Situation Index — based on consumers’ assessment of current business and labor market conditions — soared from 110.1 to 139.6. The Expectations Index — based on consumers’ short-term outlook for income, business, and labor market conditions — rose moderately, from 108.3 last month to 109.8 in April. In a statement prepared for the release of this month’s CCI, Lynn Franco, Senior Director of Economic Indicators at The Conference Board said, “Consumer confidence has rebounded sharply over the last two months and is now at its highest level since February 2020. Consumers’ assessment of current conditions improved significantly in April, suggesting the economic recovery strengthened further in early Q2. Consumers’ optimism about the short-term outlook held steady this month. Consumers were more upbeat about their income prospects, perhaps due to the improving job market and the recent round of stimulus checks. Short-term inflation expectations held steady in April but remain elevated. Vacation intentions posted a healthy increase, likely boosted by the accelerating vaccine rollout and further loosening of pandemic restrictions.”

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Original Source:
US Consumer Confidence Up Sharply Again in April