FXstreet.com (Barcelona) - Consumer confidence has declined in April for its fifth consecutive month with both the present situation index and the expectations index posting substantial declines on the month, according to the Conference Board.
In April, the consumer confidence index has dropped to 57.2 from 62.8 in April. The present situation index has declined to 74.4 in April from 81.9 in march, while the expectations index has declined to 45.7 in April from 50.0 in March.
The Consumer confidence index is now at a 16 year low according to, as according to Lynn Franco, Director of The Conference Board Consumer Research Center: Weakening business and job conditions coupled with growing pessimism about the short-term future have further depleted consumers' confidence in the overall state of the economy. Consumers' inflation expectations, fueled by increasing prices at the pump, are now at an all-time high and are likely to rise further in the months ahead.