US consumer confidence has tumbled to the lowest level since last November, amid deepening concerns
about the outlook for jobs and income growth.
The Conference Board's consumer confidence index for April sank to 97.7 from 103 in March. The figure was worse than the average Wall Street estimate of 98. The reading has now slipped for three months running from 105.1 in January.
'Less robust conditions and a more cautious outlook have consumers feeling less confident in April than in March,' said Lynn Franco, research director at the business think tank.
Two key components of the index were also sharply lower. The present situation index fell to 113.6 from 117 in March, while the expectations index slipped to its lowest level in nearly two years - 87.2 from 93.7.
'Looking ahead, consumers do not anticipate an improvement in economic growth nor in their incomes. And they expect an even tighter job market over the summer months,' said Franco.
Separate figures from the Commerce Department showed that US new home sales jumped by 12% in March to a record 1.43 million annual rate.
