Consumer Confidence dips in April.
Analysts were expecting a reading of just 107.5. The Present Situation Index fell from 111.5 to "Consumers' expectations remain virtually undaunted and signal continued expansion in the months ahead," said Lynn Franco, director of the Conference Board's Consumer Research Center.
Consumers' assessment of ongoing conditions eased in April. Those rating current conditions as "good" declined from 21.0% to 19.7%. Those rating current business conditions as "bad" rose from 18.3% to 19.4%.
Consumers' outlook for the next six months was mixed. Those expecting an improvement in business conditions increased from 25.4% to 26.1%. However, those anticipating conditions to worsen increased modestly, from 6.2% to 6.4%.
The employment outlook was also mixed. Currently, 22.4% of consumers expect more jobs to become available in the next six months, up from 20.7%. However, those expecting fewer jobs rose from 13.5% to 14.7%. As for income prospects, 21.2% of consumers anticipate an increase, down from 22.7% in March.