U.S. consumer confidence probably declined in April from a seven-month high, which may suggest spending is cooling, analysts said in advance of today's economic report.
A reading of 107.5 is expected for the Conference Board's consumer confidence index, based on the median of 47 forecasts in a Bloomberg News survey. That would be down from 110.2 in March, when confidence surged as Americans became convinced that the recession had ended.
Rising gasoline prices, the largest drop in stock prices in seven months, concerns about the economic recovery and violence in the Middle East gave Americans reason to feel less secure. That may have damped their willingness to buy, which matters because consumer spending accounts for two-thirds of the economy. Wal-Mart Stores Inc. already projects that sales slowed for the month
The Conference Board's report comes four days after a University of Michigan report that showed confidence declined to a two-month low in April. The university's index fell to 93 from 95.7 in March.
