"Overall, consumers are more upbeat about the state of the economy, but they remain cautiously optimistic"
- Lynn Franco, director of the Conference Board Consumer Research Center
U.S. consumer confidence declined in April as consumers became slightly less optimistic on the outlook of the country's economy, the Conference Board Inc. said on Tuesday. An index of sentiment decreased to 69.2 from 70.2 points in March.
"Overall, consumers are more upbeat about the state of the economy, but they remain cautiously optimistic," Lynn Franco, director of the Conference Board Consumer Research Center, said in a statement.
In a separate report, the Commerce Department said new home sales declined 7.1 percent to a seasonally adjusted annual rate of 328,000 in March from an upwardly revised 353,000 units in February.
"The conditions in housing are still extremely weak, but there are some very subtle, less negative, signs suggesting stabilization there," said Sean Incremona, economist at 4Cast Ltd in New York.
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