The Conference Board Consumer Confidence Index rose sharply in April to a reading of 121.7 from March’s reading of 109.0.
“Consumer confidence has rebounded sharply over the last two months and is now at its highest level since February 2020,” said Lynn Franco, senior director of economic indicators at The Conference Board. “Consumers’ assessment of current conditions improved significantly in April, suggesting the economic recovery strengthened further in early Q2.”
The percentage of consumers saying business conditions are “good” rose to 23.3% in April from 18.3% in March, according to the index’s survey. On the flip side, the number saying business conditions are “bad” fell to 24.8% in April from 30.1% in March.
Looking at the labor market, more consumers said jobs are “plentiful” in April, 37.9%, compared to March, 26.5%.
Meanwhile, fewer consumers said jobs are “hard to get.” The percentage fell to 13.2% in April from 18.5% in March.