Consumer confidence in the U.S. was up slightly in April as more
people saw their personal finances improving, but high gas prices
may have contributed to a worsening view of the broader economy,
according to Discover Financial Services' (DFS) U.S. Spending
Monitor.
The poll index, which tracks economic confidence and spending
intentions of about 8,200 consumers a month, edged up 0.2 point to
96.7, still the highest level since October 2007.
About half the respondents reported that high gas prices would
cause them to change summer vacation plans, while 61% said they may
result in lower spending for discretionary items.
The poll found that a third of consumers believed the economy
was improving last month, down from 35% in March. About 47% of
respondents viewed the economy as worsening, an increase of 3
percentage points, and the highest level since the year began.
On personal finances, 27% said their finances were improving, up
2 percentage points from March. The portion that saw their finances
worsening, was unchanged from a month earlier.
About 42% of respondents said they spent about the same in April
as in March, up by a point, while roughly half of consumers said
they expected to spend the same in May, up 2 percentage points.
-By Tess Stynes, Dow Jones Newswires; 212-416-2481;
Tess.Stynes@dowjones.com