They feel risks .. Consumer confidence in America has declined during April

Consumer confidence in the United States has declined during April with a few preliminary estimates, according to the Michigan University index issued on Friday.
The confidence index fell during the current month, according to the final data, to 52.2 points, while the initial reading issued earlier was 50.8 points.

Consumer confidence in America

Analysts expected the stability of the index at the level of its initial reading. Although the index improved according to the modified reading, it remained less than its level in March and was 57 points to remain at its lowest level since 51.5 points in July 2022.
The major decline of the main index came against the background of a decrease in the index, to 47.3 points during the current month, compared to 52.6 points during the past month.
While the confidence index in the current economic conditions fell to 59.8 points, compared to 63.8 points last month.

American consumers orientations

“Consumers feel risks in multiple sectors of the economy, which is significantly due to the constant uncertainty about the possibility of inflation in the future,” says Joanna Hessa, director of consumer surveys at the university.
She added: “The most worrying thing about the Economy’s path is that consumers expected weaker growth in their income during the next year,” she added.
Without strong and reliable income, spending is unlikely to remain strong in light of the many warning indicators that consumers feel.
The university report said that inflation expectations next year increased to 6.5% during the current month compared to 5%, according to a survey last month to reach the highest reading since 1981.