Decreased Consumer Confidence in the US
Alex Silverman
Lackluster job prospects caused the consumer sentiment rating to drop in April while consumer confidence rebounded from a March downturn.
The Consumer Confidence Index rose from 61.9 in March to 68.1 in April, while the Consumer Sentiment Index fell from 78.6 to 76.4 in the same period. Consumer confidence and sentiment reflect people's opinion on the health of the economy, and are released by economic groups the Conference Board and Thomson Reuters respectively.
Conference Board economist Ken Goldstein said that the average consumer bases their faith in the economy on their perception of three markets: finance, housing, and labor. The most important, he added, is the labor market because people feel better spending when their source of income is secure.
Only 25 percent of those surveyed for consumer sentiment said they expect unemployment to improve in the next year, potentially contributing to the small decline in the figure. The report cited rising home prices and stock values as factors stopping the rating from falling further.
Goldstein added that recent month to month changes in the Consumer Confidence Survey proved insignificant. "We've basically been stuck for a few months, but we're almost four years out of the recession and the rating is not much higher than it was then," he said.
Senior economics major Ethan Goldspiel said he has seen little evidence that the economy is improving. "I have a lot of friends who are still looking for jobs," he said.
Junior finance and accounting major Matt Koller does think the economy is recovering because of a strong stock market. This directly affects people's pensions, he added, and should drive consumer sentiment in the coming months.
Get Top Stories Delivered Weekly
Recent The Munch News Articles
Discuss This Article
GET TOP STORIES DELIVERED WEEKLY
FOLLOW OUR NEWSPAPER
LATEST THE MUNCH NEWS
RECENT THE MUNCH CLASSIFIEDS
OUTSIDE THE LINES
- A Story To Sing About
- The Gap in Gum Care: Why Caring For Your Teeth’s F...
- Top Tips for Signature Scents and Better-Smelling Laundry
- A Dog Trainer’s Top Tips to Support Pets Through Life S...
- Clear the Air of Indoor Pollutants This Spring
- Stroke & Dementia in Black Men: Tips for Staying Healthy...
- Hispanics and African Americans at Higher Risk for Eye...
- African Americans at Higher Risk for Eye Disease
- Infinity Kings: Final Book In A Favorite Fantasy Series
- What You Need To Know About Keratoconus and the iLink...
FROM AROUND THE WEB
- Don’t Let Diabetes Shortchange Your Golden Years
- No Child is Forgotten By Marine Toys for Tots
- Sweeten Your Springtime Salads With Healthy Chilean Grapes
- Young Author Translates 4,000-Year-Old Text to Reveal...
- Keeping Cool and Energy-efficient Amid America’s “...
- Addressing Sarcopenia with a Healthy Diet
- Subway’s New Wraps Elevate Eating on the Go
- Family Teacher Conference Topics Beyond Academics
- Youth Take Down Tobacco
- BookTrib’s Bites: Four Reads to Kickoff Spring
COLLEGE PRESS RELEASES
- Shoff Promotions Comic Book & Sports Card Show
- Semiconductor Research Corp unveils 2024 Research Call, $13.8M Funding
- Charles River Associates Opens Second Scholarship Cycle, Expands to the UK
- BLUMHOUSE AND AMC THEATRES LAUNCH FIRST-EVER HALFWAY TO HALLOWEEN FILM FESTIVAL
- THE GEN Z IMPERATIVE: LISTEN TO FEELINGS AND GIVE GEN Z A VOICE