Consumer confidence creeps up in April

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Consumer confidence improved slightly in April, according to data released this morning.

The Consumer Confidence Index now stands at 65.4, up from 63.8 in March. The Present Situation Index increased to 39.6 from 37.5. The Expectations Index rose to 82.6 from 81.3.

"Consumer confidence, which had declined sharply in March, posted a modest gain in April. Consumers' short-term outlook improved slightly, suggesting that the uncertainty expressed last month is easing. Inflation expectations, which had spiked, retreated somewhat in April," said Lynn Franco, director of The Conference Board Consumer Research Center, in a statement.

"Although confidence remains weak, consumers' assessment of current conditions gained ground for the seventh straight month, a sign that the economic recovery continues," Franco said.

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