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US consumer confidence dips in April

The Conference Board's Consumer Confidence Index declined in April to 82.3, after rising in March to an upwardly revised 83.9.

WASHINGTON: US consumers lost a bit of confidence in April, but still held on to views of an improving economy and labour market, The Conference Board said on Tuesday.

The private research firm's Consumer Confidence Index declined in April to 82.3, after rising in March to an upwardly revised 83.9. The prior March estimate was 82.3.

Analysts had expected the April index to come in at 83.6.

The Conference Board said the April drop was due to consumers' worse outlook on current conditions, while expectations for the coming six months were virtually unchanged.

"While sentiment regarding current conditions may have slipped a bit, consumers do not foresee the economy, or the labour market, losing the momentum that has been building up over the past several months," said Lynn Franco, chief of economic indicators at The Conference Board.

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