India, April 29 -- Largely reflecting a significant deterioration by consumer expectations, the Conference Board released a report on Tuesday showing its U.S. consumer confidence index slumped by more than expected in the month of April.
The Conference Board said its consumer confidence index plunged to 86.0 in April from an upwardly revised 93.9 in March.
Economists had expected the consumer confidence index to tumble to 87.5 from the 92.9 originally reported for the previous month.
Stephanie Guichard, Senior Economist, Global Indicators at The Conference Board, noted the steep drop dragged the consumer confidence index down to levels not seen since the onset of the COVID pandemic.
The bigger than expected decrease by the headline inde...