WASHINGTON, April 29 (Reuters) – U.S. consumer confidence fell to a near five-year low in April due to growing concerns over tariffs affecting the economic outlook. The Conference Board reported that its consumer confidence index decreased by 7.9 points to 86.0 this month, marking the lowest level since May 2020. Economists had anticipated a decline to 87.5. The Present Situation Index dropped 0.9 points to 133.5, while the Expectations Index fell 12.5 points to 54.4, the lowest since October 2011 and below the threshold signaling a potential recession. Stephanie Guichard, Senior Economist at The Conference Board, noted that consumer confidence has declined for five consecutive months, reaching levels not seen since the start of the COVID pandemic. Economic growth is expected to slow sharply in the first quarter due to increased imports aimed at avoiding higher costs from duties. Consumer spending likely slowed significantly, hindered by inflation and tariff-related economic concerns, prompting some households to reduce consumption to preserve savings. GDP is projected to increase at a 0.3% annualized rate in Q1, the weakest since Q2 2022. Risks remain tilted to the downside. \n— new from Reuters
