US consumers sour on the outlook for business conditions and the jobs market

Consumer confidence in the US slipped as Americans soured on the outlook, especially those younger than 55 and belonging to households earnings more than $50,000.

The Conference Board's consumer confidence index slipped from a reading of 104.0 for March to 101.3 in April.

Economists had penciled in a reading of 104.4.

"While consumers' relatively favorable assessment of the current business environment improved somewhat in April, their expectations fell and remain below the level which often signals a recession looming in the short-term," said Ataman Ozyildirim, senior director, Economics at The Conference Board.

Fewer consumers than in March were expecting an improvement in business conditions, instead more were anticipating the opposite, Ozyildirim explained.

They were also expecting fewer jobs to be available over the short-term.

A sub-index linked to assessments of current business and labour market conditions improved from 148.9 to 151.1.

The sub-index for expectations on the other hand slipped from 74.0 to 68.1.

Consumer confidence in the US slipped as Americans soured on the outlook, especially those younger than 55 and belonging to households earnings more than $50,000.

The Conference Board's consumer confidence index slipped from a reading of 104.0 for March to 101.3 in April.

Economists had penciled in a reading of 104.4.

"While consumers' relatively favorable assessment of the current business environment improved somewhat in April, their expectations fell and remain below the level which often signals a recession looming in the short-term," said Ataman Ozyildirim, senior director, Economics at The Conference Board.

Fewer consumers than in March were expecting an improvement in business conditions, instead more were anticipating the opposite, Ozyildirim explained.

They were also expecting fewer jobs to be available over the short-term.

A sub-index linked to assessments of current business and labour market conditions improved from 148.9 to 151.1.

The sub-index for expectations on the other hand slipped from 74.0 to 68.1.