Consumer confidence improved slightly in April to 69.8, a gain of 2.3 points over March, as reported by the University of Michigan Consumer Sentiment Index.
The current condition index held steady in April, while the future expectations index rose in April, although it is still below February’s levels of 71.6.
Short-term future expectations led the increase, with a gain of 4.6%, while long-term expectations lagged, with an increase of only 2.9%.
Consumers are still uncertain about the future as concerns about the labor market and increasing gas prices along with the U.S. deficit continue to weigh on the consumers’ psyche.
4.29.11 (Source: University of Michigan/Reuters)