By Ovunc Kutlu
ISTANBUL (AA) - US consumer confidence in April declined despite market expectations, according to data released Tuesday by the Conference Board.
The consumer confidence index, a leading indicator of consumer spending and economic activity, fell 2.7 points to 101.3, the New York-based global research group said in a report.
The expectation was for the index to come in at 104.0, while the figure for March was revised to 104.0, down from 104.2.
"While consumers’ relatively favorable assessment of the current business environment improved somewhat in April, their expectations fell and remain below the level which often signals a recession looming in the short-term," said Ataman Ozyildirim, senior director of economics at The Conference Board.
"Consumers became more pessimistic about the outlook for both business conditions and labor markets," he added.