Despite war (and rising gas prices) now fully embedded in respondents' minds, it is perhaps surprising that The Conference Board's Consumer Confidence rose considerably more than expected to 92.8 in April (89.0 exp) from an upwardly revised 92.2.
Present Situation dipped very modestly from 124.1 to 123.8 (120.1 exp) while Expectations rose from 71.0 to 72.2 (69.2 exp)
Source: Bloomberg
That is the highest headline print in 2026.
“Consumer appraisals of current and expected business conditions declined moderately compared to last month," said Dana M Peterson, Chief Economist, The Conference Board.
"This was offset by modest improvements in consumers’ perceptions of the labor market, both current and expected, as well as income expectations, which were slightly more optimistic in April.”
While the overall trend is still lower, The Board's indicator signaled a pick up in the labor market...
Source: Bloomberg
A two-week ceasefire and a rebound in stock market indices within the survey-sample period (April 1–22) likely helped ease concerns about financial indicators somewhat in April after spiking in March.
Still, consumers remained wary.
Consumers’ average and median 12-month inflation expectations ticked downward but continued to be elevated. The percentage of consumers saying interest rates over the next 12 months will be higher on net rose to nearly 50%. Expectations for higher stock prices a year from now ticked up.
Among demographic groups, confidence continued to trend downward on a six-month moving average basis for consumers aged 35 and up while younger consumers were a tad more confident in April. Respondents under 35 remained the most optimistic and those 55 and over the least.
On a six-month moving average basis, confidence improved among Millennials and Gen Z but declined among older generations. By income, confidence on a six-month moving average basis varied, but most income groups expressed less optimism.
By political affiliation, Republicans remained the most optimistic, while confidence fell for Independents and improved slightly for Democrats.