Consumer confidence rebounds in April
Consumer confidence rebounded in April as Americans felt better about the outlook for the economy and their income prospects, according to the The Conference Board Consumer Confidence Index.
The index of consumer attitudes rose to a score of 68.1 from an upwardly revised 61.9 index score in March. March originally had a preliminary score of 59.7, the industry group noted.
Even so, consumers remain vulnerable to concerns over the recent payroll tax hike and sequestration spending cuts, the report said.
"While expectations appear to have bounced back, it is too soon to tell if confidence is actually on the mend," said Lynn Franco, director of economic indicators at The Conference Board.
The consumer labor market's assessment was mixed.
The 'jobs hard to get' index rose to 37.1% from 35.4% the month before, while the 'job plentiful' index also gained to 9.8% from 9.5%.
Consumers felt better about price increases with expectations for inflation in the coming 12 months falling to 5.5% from 5.8%.