Consumer confidence rebounds in April

NEW YORK Tue Apr 30, 2013 10:05am EDT

A shopper walks down an aisle in a newly opened Walmart Neighborhood Market in Chicago in this September 21, 2011 file photo. REUTERS/Jim Young/Files

A shopper walks down an aisle in a newly opened Walmart Neighborhood Market in Chicago in this September 21, 2011 file photo.

Credit: Reuters/Jim Young/Files

NEW YORK (Reuters) - Consumer confidence rebounded in April as Americans felt better about the outlook for the economy and their income prospects, according to a private sector report released on Tuesday.

The Conference Board, an industry group, said its index of consumer attitudes rose to 68.1 from an upwardly revised 61.9 in March. Economists had expected a reading of 60.8, according to a Reuters poll.

March was originally reported as 59.7. The expectations index gained to 73.3 from 63.7, while the present situation index improved to 60.4 from 59.2.

Even so, consumers remain vulnerable to concerns over the recent payroll tax hike and the $85 billion in automatic government spending cuts known as the sequester that was triggered last month, the report said.

"While expectations appear to have bounced back, it is too soon to tell if confidence is actually on the mend," Lynn Franco, director of economic indicators at The Conference Board, said in a statement.

Consumers' labor market assessment was mixed. The "jobs hard to get" index rose to 37.1 percent from 35.4 percent the month before, while the "jobs plentiful" index also gained to 9.8 percent from 9.5 percent.

Consumers felt better about price increases with expectations for inflation in the coming 12 months falling to 5.5 percent from 5.8 percent.

(Reporting by Leah Schnurr; Editing by Chizu Nomiyama)

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (2)
USAPragmatist wrote:
Lets hear how this is a bad thing or lies righties/Obama haters.

Apr 30, 2013 10:40am EDT  --  Report as abuse
50cal wrote:
USAPragmatist

Actually you are about the worst thing for obama right now…thanks.

Apr 30, 2013 11:06am EDT  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

Recommended Newsletters

Reuters U.S. Top News
A quick-fix on the day's news published with Reuters videos and award-winning news photography and delivered at your choice of one of four times during the day.
Reuters Deals Today
The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day.
Reuters Technology Report
Your daily briefing on the latest tech developments from around the world from Reuters expert tech correspondents.