WASHINGTON | American consumers saw their confidence rebound in April to a level close to the 18-year high it had reached two months ago.
The Conference Board says its consider confidence index rose to 128.7 in April, up from a March level of 127.0. The March level was just below the 130.0 hit in February, which had been the highest since November 2000.
The business research group’s index measures consumers’ assessment of current conditions and their outlook for the next six months. Economists believe the strength in confidence reflects a strong labor market, with unemployment at a 17-year low, as well as the impact of the $1.5 trillion in tax cuts approved in December, which began showing up in workers’ paychecks earlier this year.