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Consumer confidence rebounds in April after declining in March

An index of U.S. consumer attitudes increased in April, recovering from a fall in March.

The Conference Board’s measure of consumer confidence increased to 128.7 this month, up from 127 in March.

The April reading beat a forecast from Reuters analysts, who expected the index to slip further to 126.

Consumer confidence fell in March, breaking a two-month streak of gains.

“Consumers’ assessment of current conditions improved somewhat, with consumers rating both business and labor market conditions quite favorably,” said Lynn Franco, the Conference Board’s director of economic indicators.

Consumers’ short-term expectations for their incomes also improved, Franco said in a statement.

The index takes into account Americans’ views of current economic conditions and their expectations for the next six months. Economists pay close attention to the numbers because consumer spending accounts for about 70 percent of U.S. economic activity.

Link to the source of information: www.cnbc.com

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