FXstreet.com (Barcelona) - US consumer confidence has deteriorated further in April, with the assessment of the current situation worsening considerably on the month, and the expectations practically unchanged, according to the latest report on consumer confidence by the US Conference Board.
In April, the Consumer Confidence Index has decreased to 62.3 fro, 65.9 in March, with the Present Situation Index falling to 80.7 in April from 90.6 in March, and the Expectations Index practically unchanged at 50.1 from 49.4 in March.
According to Lynn Franco, Director of The Conference Board Consumer Research Center, the decline on the present situation's assessment has weighed on the global index: This month's decline in Consumer Confidence was the result of yet another sharp decline in the Present Situation Index. This continued weakening suggests that not only has the feeble level of growth in the first quarter spilled over into the second quarter, but that economic conditions may have slowed even further. And, not only are lackluster business and job conditions eroding confidence, but rising gasoline prices are undoubtedly heightening concerns