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US Consumer Confidence Slips, Home Prices Continue Upward

Posted by Joseph Trevisani on Apr 29, 2014 10:27:00 AM

American consumer confidence slipped in April though it remained close to its post-recession top, despite a soft labor market and higher food and gasoline prices.

Consumer sentiment fell to 82.3 this month from 83.9 in March according to the business group the Conference Board. Economists in the Bloomberg survey had forecast 83.0. March had originally been reported at 82.3.

The expectations index, which charts perceived prospects in six months, jumped to 84.9 in April, its strongest since August, from an adjusted 84.8 in March. The index for present conditions fell to 78.3 from last month's upwardly revised 82.5.

The  closely watched "jobs hard to get" index rose to 32.5 percent from 31.4, revised from 33.0

The S&P/Case-Shiller index of property values in 20 U.S. cities showed the pace of gains moderating somewhat. The index rose 12.9 percent from February 2013 after a 13.2 percent gain in the year to January. This was the 12th straight month of double digit price increases, something that has not happened since the height ofthe housing bubble in 2004 and 2005. 

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