U.S. consumer confidence declines in April

U.S. consumer confidence declined in April following an increase in the previous month, a research group said Tuesday.

The Conference Board Consumer Confidence Index registered 95.2 in April, down from 101.4 in March, the New York-based Conference Board said in a report.

"This month's retreat was prompted by a softening in current conditions, likely sparked by the recent lackluster performance of the labor market, and apprehension about the short-term outlook," said Lynn Franco, director of Economic Indicators at the research group.

The report showed that the Present Situation Index decreased from 109.5 last month to 106.8 in April, while the Expectations Index declined from 96.0 to 87.5.

"The Present Situation Index declined for the third consecutive month. Coupled with waning expectations, there is little to suggest that economic momentum will pick up in the months ahead," Franco said.

Consumers' optimism about the short-term outlook, which rebounded in March, retreated in April. The percentage of consumers expecting business conditions to improve over the next six months decreased from 16.8 percent to 16.0 percent, while those expecting business conditions to worsen increased from 8.1 percent to 9.4 percent.

Consumers' outlook for the labor market also deteriorated. Those anticipating more jobs in the months ahead decreased from 15.3 percent to 13.8 percent, while those anticipating fewer jobs rose from 13.6 percent to 16.3 percent. Endi