A new report has shown that US consumer confidence fell again in April amid growing worries about jobs and high energy costs.
Research group the Conference Board said its index of consumer confidence fell to 62.3 from 65.9 in March. The index is seen as a gauge of future consumer spending, which represents the bulk of US economic activity.
The present situation index, which measures current conditions, decreased to 80.7 from 90.6 while the expectations index edged up slightly to 50.1 from 49.4 in March.
Lynn Franco, director of the Conference Board consumer research centre, said the survey boded ill for the economic outlook.
'This month's decline in consumer confidence was the result of yet another sharp decline in the present situation index,' Franco said. She said this suggested that the feeble level of growth in the first quarter spilled over into the second quarter, and that economic conditions may have slowed even further.
The survey showed that inflation expectations continued to rise while the percentage of respondents intending to take a holiday over the next six months fell to a 30-year low, another sign of consumers turning more cost conscious.
