US consumer confidence hits lowest level since July 2022

In April, U.S. consumer confidence plummeted to its lowest level since July 2022, reaching an index score of 97, down from 103.1 in March, and below the anticipated 104. This decline, reported by the Conference Board, reflects growing concerns over inflation, the job market, and future business conditions. Elevated prices, particularly for food and gas, were primary worries among consumers, alongside concerns about global conflicts and political issues. Additionally, the outlook for the next six months worsened, matching the low confidence levels of July 2022.