Consumer Confidence Tops Analysts’ Forecasts

The Conference Board said Tuesday the Consumer Confidence Index, which had decreased in March, rose to 65.4 in April (up from 63.8 in March), topping analysts’ forecasts for 64.5.

Lynn Franco, Director of The Conference Board Consumer Research Center said:

“Consumer confidence, which had declined sharply in March, posted a modest gain in April. Consumers’ short-term outlook improved slightly, suggesting that the uncertainty expressed last month is easing. Inflation expectations, which had spiked, retreated somewhat in April. Although confidence remains weak, consumers’ assessment of current conditions gained ground for the seventh straight month, a sign that the economic recovery continues.”