US consumer confidence rebounded in April amid
an increase in expectations about the short-term economic outlook and
prospects for the labor market, the New York-based Conference Board
said Tuesday.
The index rose to 68.1 in April, up from a revised 61.9 in March,
when the data fell sharply as Americans turned pessimistic about the
country's short-term economic outlook. The index had stood at a
revised 68 in February.
Lynn Franco, the group's director of economic indicators, pointed
to the improved short-term outlook as well as confidence about better
income prospects as contributing to the rise, but said it was too
soon to tell whether the data represented a trend.
"However, consumers' confidence has been challenged several times
over the past few months by such events as the fiscal cliff, the
payroll tax hike and the sequester," she said. "Thus, while
expectations appear to have bounced back, it is too soon to tell if
confidence is actually on the mend."
The Conference Board noted a moderate improvement in how consumers
viewed the current economic environment as well as a jump in
expectations for improvement in business conditions over the next six
months.
The figures are based on a monthly survey of consumers conducted
by the pollster Nielsen.
