The Conference Board Consumer Confidence Index®, rose to 65.4 from 63.8 — but is still lower than February’s reading of 72.0. The Present Situation Index improved to 39.6 from 37.5. The Expectations Index decreased to 81.1 from 97.5 last month.
Lynn Franco, Director of The Conference Board Consumer Research Center comments:
“Consumer confidence, which had declined sharply in March, posted a modest gain in April. Consumers’ short-term outlook improved slightly, suggesting that the uncertainty expressed last month is easing. Inflation expectations, which had spiked, retreated somewhat in April. Although confidence remains weak, consumers’ assessment of current conditions gained ground for the seventh straight month, a sign that the economic recovery continues.”
The SPDR S&P Retail ETF (NYSE:XRT) has been volatile all morning and has yet to make a move. The ETF is up 0.04%.