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Confidence in U.S. Ebbs, Catching Up With Spending Slowdown

Bloomberg business news

U.S. Consumer Confidence Unexpectedly Decreased

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Ever since December, the collision between cooling consumer spending and buoyant consumer confidence has puzzled economists and investors. The clash is over for now, and optimism has suffered.

The Conference Board’s consumer confidence index dropped to a four-month low of 95.2 in April, weaker than the most pessimistic forecast in a Bloomberg survey of economists, according to figures from the New York-based private research group Tuesday. Government data Wednesday are projected to show purchases grew in the first quarter at less than half the pace of the previous three months.