U.S. consumer confidence index fell slightly in April! Purchasing intention also cooled!

It is learned that according to the U.S. Consumer Confidence Index released by the U.S. Conference Board, consumer confidence declined slightly in April due to inflation, rising fuel prices and the Russia-Ukraine war, but consumers are still optimistic about the future.

Data showed that the U.S. consumer confidence index fell from 107.6 in March to 107.3 in April. March was the first increase in the confidence index since 2022.

At the same time, Americans are more negative about current business and labor market conditions, but more optimistic about future income, business and labor market conditions.

Lynn Franco, senior director of the Conference Board, said: "Although the consumer confidence index has declined, it is still quite high, indicating that the economy continued to expand in the early second quarter. Although the outlook is not optimistic, it will not deteriorate further, in the face of various factors such as rising inflation and the war between Russia and Ukraine."

It is learned that now, Americans' interest in "vacation" has declined, but their intention to buy big-ticket items such as cars and appliances has increased. However, affected by rising prices, consumers' overall purchasing intentions are now lower than recent levels.

Lynn Franco added: "U.S. consumers' concerns about inflation have fallen from their highs in March, but they are still high. In the future, inflation and the war between Russia and Ukraine will continue to affect consumer confidence, and consumers are likely to further curb their consumption spending this year."

Editor ✎ Nicole/

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