U.S. Consumer Confidence Remains Strong

Washington, Rajab 28, 1438, Apr 25, 2017, SPA — U.S. consumer confidence fell in April but remains at elevated levels, a business research group reported Tuesday.
The Conference Board said its consumer-confidence index fell to 120.6 this month from 124.9 in March, which was the highest reading in 16 years.
Respondents’ assessment of current conditions, expectations for the future, and outlook for job prospects all declined this month. Still, consumer sentiment has risen sharply since last November.
“Despite April’s decline, consumers remain confident that the economy will continue to expand in the months ahead,” said Conference Board economic-indicators director Lynn Franco.
Economists closely watch consumer-confidence indexes for clues on consumer spending, which accounts for about 70 percent of U.S. economic activity.
–SPA
20:50 LOCAL TIME 17:50 GMT