Consumer confidence dampened slightly in April but remains high even as inflation concerns continue to cloud their optimism about the rest of the year.
FILE - A woman presses button to fill up a gas tank at a gas station in East Dundee, Ill., Saturday, March 19, 2022. The Conference Board, a business research group, said Tuesday, April 26, that its consumer confidence index — which takes into account consumers’ assessment of current conditions and their outlook for the future — edged down to 107.3 in April from 107.6 in March. WASHINGTON — U.S.
The expectations index, based on consumers’ six-month outlook for income, business and labor market conditions, ticked up to 77.2 in April from 76.7 in March. It stood at 80.8 in February and remains a weak spot in the survey. Inflation soared over the past year at its fastest pace in more than 40 years, with costs for food, gasoline, housing and other necessities squeezing American consumers and negating their pay raises.
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