US consumer confidence dives to lowest since July 2022

US consumer confidence dives to lowest since July 2022

Consumers less positive about labor situation, more concerned about job availability, says economist

By Ovunc Kutlu

ISTANBUL (AA) - US consumer confidence in April plummeted to its lowest level since July 2022, according to the New York-based The Conference Board on Wednesday.

The consumer confidence index, a leading indicator of consumer spending and economic activity, fell 6.1 points to 97.0 in April from the revised figure of 103.1 in March.

The market expectation for the index was to come in at 104.0.

"Consumers became less positive about the current labor market situation, and more concerned about future business conditions, job availability, and income," said Dana Peterson, chief economist at the Conference Board.

"Despite April’s dip in the overall index, since mid-2022, optimism about the present situation continues to more than offset concerns about the future," she added.

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