Consumer Confidence Falls Further in April

Washington, DC, April 29, 2008--The Conference Board Consumer Confidence Index, which had declined sharply in March, fell further in April.

The Index now stands at 62.3,  down from 65.9 in March. The Present Situation Index decreased to 80.7 from 90.6. The Expectations Index was virtually unchanged, 50.1 versus 49.4 in March.

The Consumer Confidence Survey is based on a representative sample of 5,000 U.S. households.

"This month's decline in Consumer Confidence was the result of yet another sharp decline in the Present Situation Index," said Lynn Franco, director of The Conference Board Consumer Research Center:

"This continued weakening suggests that not only has the feeble level of growth in the first quarter spilled over into the second quarter, but that economic conditions may have slowed even further. And, not only are lackluster business and job conditions eroding confidence, but rising gasoline prices are undoubtedly heightening concerns. Consumers' inflation expectations continue to rise and this measure now matches the all-time high reached in the aftermath of Hurricane Katrina."

Consumers claiming business conditions are "bad" increased to 26.7 percent from 25.5 percent, while those claiming business conditions are "good" was virtually unchanged at 15.3 percent versus 15.6 last month.