U.S. April Consumer Confidence Index Rises to 92.8, Up 0.6 Points from Previous Month

Hopes for a Ceasefire in the Iran War
Optimism Reflected in the Labor Market

Despite a surge in international oil prices due to the aftermath of the Iran war, the U.S. consumer confidence index for April improved compared to the previous month.

The Conference Board, a U.S. economic research organization, announced on April 28 (local time) that the U.S. Consumer Confidence Index for April stood at 92.8 (based on 1985=100), up 0.6 points from the previous month's 92.2. This figure exceeded the expert forecast of 89.0 compiled by Dow Jones.

The Consumer Confidence Index reflects both expectations for income and the employment market (Expectations Index) and assessments of the current economy and labor market (Present Situation Index). It numerically indicates how optimistic people are about the current economic situation and the future outlook.

The Present Situation Index was 123.8, down 0.3 points from the previous month, while the Expectations Index rose 1.2 points from the previous month to 72.2. However, the Expectations Index continued to remain below the 80 mark, a level considered to signal an impending economic recession.

Conference Board Chief Economist Dana Peterson stated, "Although there were significant concerns about rising gasoline prices as Brent crude prices soared due to the Middle East war, consumer confidence in April saw a slight increase, but overall, there was little change."

She added, "While assessments of the current and future business environment weakened somewhat, this was offset by some improvement in perceptions of the labor market (both current and expected) and income prospects."

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