Confidence rises slightly, says Conference Board

The Conference Board Consumer Confidence Index increased slightly to 65.4 in April, up from 63.8 in March, and up from 57.7 in April 2010.

"Consumers’ short-term outlook improved slightly, suggesting that the uncertainty expressed last month is easing. Inflation expectations, which had spiked, retreated somewhat in April," said Lynn Franco, director of The Conference Board Consumer Research Center. "Although confidence remains weak, consumers’ assessment of current conditions gained ground for the seventh straight month, a sign that the economic recovery continues.”

The Present Situation Index increased to 39.6, up from 37.5. 

While those expecting business conditions to improve over the next six months declined to 18.8% from 20.8%, those anticipating business conditions to worsen decreased to 14.2% from 15.5%.

The closely watched confidence metrics follow reports of slight month-to-month improvements in new home sales and residential construction.