by Max Gottlich
Seeking Alpha
The U.S. Consumer Confidence Index dropped to 86.0 in April from 93.9 (revised from 92.9), compared with the 87.7 consensus, according to data released by The Conference Board on Tuesday.
That marks the fifth straight month of declines in consumer confidence, hitting levels last seen during the onset of the Covid-19 pandemic, said Stephanie Guichard, senior economist, Global Indicators at The Conference Board.
“The decline was largely driven by consumers’ expectations,” she explained. “The three expectation components—business conditions, employment prospects, and future income—all deteriorated sharply, reflecting pervasive pessimism about the future.”