Americans’ confidence in the economy held steady in April from the previous month despite rising gas prices and falling home values, says a private research group. The Conference Board says its Consumer Confidence Index now stands at 69.2, down slightly from a revised 69.5 in March. Economists were expecting a reading of 70, according to a FactSet poll of analysts. The current level is below February’s 71.6, which is the highest level it has reached in a year. Consumer confidence is widely watched because consumer spending accounts for 70% of economic activity. Though the April reading is significantly below the level of 90, which indicates a healthy economy, it is well above the 40 the index hit last October.
U.S. consumer confidence unwavering in April
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