United States: Consumer confidence jumps to the highest level since February 2020 in April
Consumer confidence came in at 121.7 in April, up from March’s 109.0. As a result, the index increased further above the 100-threshold, indicating healthy optimism among consumers.
The strong uptick came on the back of a surge in consumers’ assessment of current labor market and economic conditions, likely buoyed by the ongoing rollout out of an effective Covid-19 vaccine across the country amid ample fiscal stimulus. Moreover, consumers’ outlook on future economic and labor market conditions increased marginally in April.
Lynn Franco, senior director of economic indicators at the Conference Board, noted:
“Consumers’ assessment of current conditions improved significantly in April, suggesting the economic recovery strengthened further in early Q2. […] Consumers were more upbeat about their income prospects, perhaps due to the improving job market and the recent round of stimulus checks.”