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Consumer confidence rebounded in April after a dip in March.
The numbers: Consumer confidence bounced back in April, a survey shows that suggests the economy is likely to keep growing solidly through the summer.
The consumer confidence index rose to 129.2 from 124.2, the Conference Board said Tuesday. Economists polled by MarketWatch expected a 126.9 reading.
What happened: Consumers feel pretty good about how the economy is doing right now, and they see good times continuing over the next six months.
The present situation index rose to 168.3 from 163. The board’s survey of future expectations moved up to 103 from 98.3. Both are close to the highest levels in a decade.
Big picture: Consumer confidence surged to an 18-year peak in October, and Americans are still optimistic about the economy, if a bit less than they were last fall.
There’s good reason to believe confidence will remain high. Stock prices have retouched record highs, interest rates and inflation are low, and wages are rising at the fastest pace in almost a decade. That should be enough to help the current 10-year-old economic expansion break the all-time record for longevity this summer.
What they are saying? “Consumer confidence partially rebounded in April, following March’s decline, but still remains below levels seen last fall,” said Lynn Franco, director of economic indicators at board. “Overall, consumers expect the economy to continue growing at a solid pace into the summer months.”
Market reaction: The Dow Jones Industrial Average DJIA, -0.09% and S&P 500 SPX, -0.24% were narrowly mixed in Tuesday trades. The 10-year Treasury yield TMUBMUSD10Y, -0.40% was little changed at 2.53%.
