Business News Asia
The University of Michigan survey showed the consumer confidence index rose to 65.7 in April from 59.4 in March, the lowest level since 2011.
The key factors driving the confidence index were the good employment situation and the drop in oil prices, which is helping to allay fears of inflation. Previously, the index had fallen for three months in a row due to inflation fears.
The index of confidence in the future economic situation rose again in April, while the index of current economic sentiment remained stable.
The U.S. Consumer Confidence Index is a survey of 500 consumers’ confidence in the economy, including personal finances, inflation, unemployment, interest rates, and government policies.