U.S. consumer confidence fell in April to 82.3 from a revised 83.9, the Conference Board announced Tuesday.
Economists surveyed by Bloomberg News had expected the index to total 83.0.
“Consumer confidence declined slightly in April, as consumers assessed current business and labor market conditions less favorably than in March,” Lynn Franco, Director of Economic Indicators at The Conference Board, said in a statement. “However, their expectations regarding the short-term outlook for the economy and labor market held steady. Thus, while sentiment regarding current conditions may have slipped a bit, consumers do not foresee the economy, or the labor market, losing the momentum that has been building up over the past several months.”
The monthly survey is based on a random sample and is conducted for the Conference Board by Nielsen, a provider of information and analytics.