US consumer confidence declines in April

The American Conference Board said today that the consumer confidence index in the United States fell to 107.3 points in April, compared to 107.6 points in March, after an upward revision. Analysts had expected consumer confidence to record 108.0 points in April. Consumer inflation expectations over the next 12 months fell to 7.5% in April from 7.9% in March, and the share of consumers planning to purchase devices was the largest in eight years. The Federal Reserve raised its policy interest rate by 25 basis points last month in its first rate hike in more than three years. The Fed is expected to raise interest rates by 50 basis points next week and will soon start reducing its asset holdings.