Consumer confidence rises sharply in April
WASHINGTON (MarketWatch) - The consumer confidence index jumped to 68.1 in April from an upwardly revised 61.9 in March, recovering entirely from the sharp drop in the prior month, the Conference Board said Tuesday. The rebound in the index easily surpassed the 61.3 forecast of economists polled by MarketWatch. Consumer confidence tumbled in March in part because of the so-called sequester, the controversial law that requires billions of dollars in federal spending cuts. Yet higher stock prices and lower gasoline costs may have eased the concerns of Americans in April, pushing the confidence index higher. Consumers were more optimistic about the health of the economy over the next six months than they are right now. The expectations index surged to 73.3 from 63.7 in March, marking the highest level since November. The present situation index was little changed, inching up to 60.4 from 59.2. Yet the percentage of people saying jobs are hard to find right now rose more sharply than those who say jobs are "plentiful.

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