US consumer confidence slips in April

US consumer confidence slipped in April as the outlook for business conditions and employment deteriorated, according to one of the most widely-followed gauges of sentiment.

The Conference Board's headline consumer confidence index retreated from a print of 124.9 for March to 120.3 for April.

Economists had anticipated a reading of 124.0.

Meanwhile, a sub-index measuring Americans' perceptions of present conditions fell from a reading of 143.9 to 140.6, alongside a steeper fall for the sub-index tracking their expectations from 112.3 to 106.7.

Despite this month's decline, Conference Board director Lynn Franco pointed out the strong gains seen over the previous two months, adding that at its current level the think-tank's gauge remained at a "strong" level.

"Consumers assessed current business conditions and, to a lesser extent, the labor market less favorably than in March. Looking ahead, consumers were somewhat less optimistic about the short-term outlook for business conditions, employment and income prospects. Despite April’s decline, consumers remain confident that the economy will continue to expand in the months ahead," Franco said.