​​​​​​ISTANBUL

The Conference Board's US Consumer Confidence Index fell 7.9 points to 86 in April to its lowest since August 2020, according to data released Tuesday.

The figure for March was revised up to 93.9, while the markets expected the April figure to come in at 87.7 points.

The Present Situation Index, which reflects American consumers' assessments of current job and labor market conditions, decreased 0.9 points to 133.5 in April.

The Expectations Index, which is consumers' short-term assessments of income, job and labor market conditions, fell 12.5 points to 54.4.

The Expectations Index was well below the threshold of 80, the level indicating a recession is expected in the next year, and saw its lowest recording since October 2011.

“Consumer confidence declined for a fifth consecutive month in April, falling to levels not seen since the onset of the COVID pandemic,” said Stephanie Guichard, senior economist at The Conference Board.

Pointing out that business conditions, employment prospects and future income expectations have deteriorated sharply, Guichard said concerns about the economy have spread to consumers' concerns about their situations.

“High financial market volatility in April pushed consumers’ views about the stock market deeper into negative territory, with 48.5% expecting stock prices to decline over the next 12 months (the highest share since October 2011)," she noted.

Guichard added that 12-month average inflation expectations reached 7%, the highest since November 2022.