Consumer confidence rises in April

By @ibtimes on

U.S. consumer confidence rose in April as inflation expectations eased somewhat and consumers felt better about the short-term outlook, according to a private sector report released on Tuesday.

The Conference Board, an industry group, said its index of consumer attitudes rose to 65.4 in April from a revised 63.8 in March. The reading topped analysts' forecasts for 64.5.

March was originally reported as 63.4. The expectations index climbed to 82.6 from 81.3, while the present situation index rose to 39.6, its highest since November 2008, from 37.5.

Consumers' labor market assessment improved. The proportion of those who said jobs were hard to get eased to 41.8 percent from 44.4 percent the month before, while the jobs plentiful category rose to 5.2 percent from 4.6. Consumers' expectations for inflation in the coming 12 months fell to 6.3 percent from 6.7 percent.

(Reporting by Leah Schnurr, Editing by Chizu Nomiyama)

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