The Conference Board, a non-partisan, not-for-profit think tank founded in 1916, today (4-26-22) released their Consumer Confidence Index® (CCI) for April 2022. The CCI declined slightly in April after a modest increase in March. The Index (1985=100) now stands at 107.3, down from 107.6 in March.
The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—dropped from 153.8 in March to 152.6 in April.
The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—inched higher to a reading of 77.2 in April, up from March’s reading of 76.7.
In a statement prepared for the April Consumer Confidence Index, Lynn Franco, Senior Director of Economic Indicators at The Conference Board, said:
“Consumer confidence fell slightly in April, after a modest increase in March. The Present Situation Index declined, but remains quite high, suggesting the economy continued to expand in early Q2. Expectations, while still weak, did not deteriorate further amid high prices, especially at the gas pump, and the war in Ukraine. Vacation intentions cooled but intentions to buy big-ticket items like automobiles and many appliances rose somewhat.
Still, purchasing intentions are down overall from recent levels as interest rates have begun rising. Meanwhile, concerns about inflation retreated from an all-time high in March but remained elevated. Looking ahead, inflation and the war in Ukraine will continue to pose downside risks to confidence and may further curb consumer spending this year.”
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