The Conference Board's Consumer Confidence Index Tumbles Nearly Eight Points

Apr 24, 2001, 01:00 ET from The Conference Board

    NEW YORK, April 24 /PRNewswire Interactive News Release/ -- The Conference
 Board's Consumer Confidence Index -- which had rebounded in March -- tumbled
 nearly eight points in April.
     The Index now stands at 109.2 (1985=100), down from 116.9 in March.
 Consumers have turned gloomy about both current and future business
 conditions.  The Expectations Index fell from 83.1 to 78.2.  The Present
 Situation Index declined from 167.5 to 155.6.
     The Consumer Confidence Survey, the country's most comprehensive survey of
 consumer attitudes, is based on a representative sample of 5,000 U.S.
 households.  The monthly survey is conducted for The Conference Board by NFO
 WorldGroup, a member of The Interpublic Group of Companies (NYSE:   IPG).
 
     A CLIMATE OF APPREHENSION
     "The April spurt in consumer confidence ended quickly this month," says
 Lynn Franco, Director of The Conference Board's Consumer Research Center.
 "Deteriorating business conditions and a less favorable job market are the two
 critical reasons for the latest decline in confidence.  It's clear that
 consumers have begun to worry about employment trends and these concerns are
 gnawing away at consumer confidence."
     Consumers' assessment of current business conditions fell in April.  The
 percent of consumers who rated current business conditions as "good" declined
 from 33.0 percent to 27.9 percent.  Consumers rating conditions as "bad"
 increased from 10.8 percent to 13.3 percent.  Consumers claiming jobs were
 "hard to get" rose from 12.6 percent to 14.2 percent.  Those reporting jobs
 were plentiful fell from 43.8 percent to 40.0 percent.
     Consumers' outlook for the next six months is also less optimistic than
 last month.  Those expecting an improvement in business conditions dipped from
 15.1 percent to 14.1 percent.  Those anticipating conditions to worsen
 increased from 13.7 percent to 14.7 percent.
     The employment outlook has also turned sour.  Some 23.2 percent of
 consumers expect fewer jobs to become available over the next six months, up
 from 20.4 percent.  Those expecting more jobs to become available remained
 virtually unchanged at 12.3 percent.  Income expectations also declined.  Now,
 22.1 percent of all consumers anticipate a gain in their paychecks over the
 next six months, down from 23.4 percent last month.
 
  Tomorrow on The Conference Board's website (http://www.conference-board.org)
                -- Lynn Franco on what consumers are telling us.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X12644641
 
 

SOURCE The Conference Board
    NEW YORK, April 24 /PRNewswire Interactive News Release/ -- The Conference
 Board's Consumer Confidence Index -- which had rebounded in March -- tumbled
 nearly eight points in April.
     The Index now stands at 109.2 (1985=100), down from 116.9 in March.
 Consumers have turned gloomy about both current and future business
 conditions.  The Expectations Index fell from 83.1 to 78.2.  The Present
 Situation Index declined from 167.5 to 155.6.
     The Consumer Confidence Survey, the country's most comprehensive survey of
 consumer attitudes, is based on a representative sample of 5,000 U.S.
 households.  The monthly survey is conducted for The Conference Board by NFO
 WorldGroup, a member of The Interpublic Group of Companies (NYSE:   IPG).
 
     A CLIMATE OF APPREHENSION
     "The April spurt in consumer confidence ended quickly this month," says
 Lynn Franco, Director of The Conference Board's Consumer Research Center.
 "Deteriorating business conditions and a less favorable job market are the two
 critical reasons for the latest decline in confidence.  It's clear that
 consumers have begun to worry about employment trends and these concerns are
 gnawing away at consumer confidence."
     Consumers' assessment of current business conditions fell in April.  The
 percent of consumers who rated current business conditions as "good" declined
 from 33.0 percent to 27.9 percent.  Consumers rating conditions as "bad"
 increased from 10.8 percent to 13.3 percent.  Consumers claiming jobs were
 "hard to get" rose from 12.6 percent to 14.2 percent.  Those reporting jobs
 were plentiful fell from 43.8 percent to 40.0 percent.
     Consumers' outlook for the next six months is also less optimistic than
 last month.  Those expecting an improvement in business conditions dipped from
 15.1 percent to 14.1 percent.  Those anticipating conditions to worsen
 increased from 13.7 percent to 14.7 percent.
     The employment outlook has also turned sour.  Some 23.2 percent of
 consumers expect fewer jobs to become available over the next six months, up
 from 20.4 percent.  Those expecting more jobs to become available remained
 virtually unchanged at 12.3 percent.  Income expectations also declined.  Now,
 22.1 percent of all consumers anticipate a gain in their paychecks over the
 next six months, down from 23.4 percent last month.
 
  Tomorrow on The Conference Board's website (http://www.conference-board.org)
                -- Lynn Franco on what consumers are telling us.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X12644641
 
 SOURCE  The Conference Board