US consumer confidence dips in April

US consumer confidence fell in April, missing economists’ expectations, according to data from the Conference Board.

The consumer confidence index edged down to 94.2 from 96.1 in March, versus expectations for a reading of 96.0.

Meanwhile, the present situation index rose to 116.4 from 114.9, while the expectations index slipped to 79.3 in April from 83.6 in March.

“Consumer confidence continued on its sideways path, posting a slight decline in April, following a modest gain in March,” said Lynn Franco, director of Economic Indicators at The Conference Board.

“Consumers’ assessment of current conditions improved, suggesting no slowing in economic growth. However, their expectations regarding the short-term have moderated, suggesting they do not foresee any pickup in momentum.”