Conference Board Consumer Confidence

The consumer confidence index fell to 62.3 in the month of April, down from an upwardly revised 65.9 in March. The index is at its lowest levels since March 2003. The number is above estimations though, as economists were expecting an April reading of 61. Lynn Franco, director of consumer research at the private Conference Board, adds:

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.

Inflation expectations came in at a 3-year high, at its highest level since Hurricane Katrina. Consumers expect prices to rise 6.8% in the next 12 months. In March, consumers' inflation expectations were 6.1%.

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