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Slight Drop for Consumer Confidence [AUDIO]

Consumer confidence declined slightly in April after a solid gain in March, but no one is worried about the long-term outlook.

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Consumers
Kevork Djansezian, Getty Images

By the numbers, the measure of whether consumers will feel like buying something went from 83.9 in March to 82.3 in April.

Despite the April drop, consumer sentiment — probably the most crucial component of the economy — remains at its strongest levels since early in 2008. That was the start of the Great Recession.

Conference Board economist Ken Goldstein also believes Friday’s jobs report from the Fed will help bolster that confidence.

“That’s what our leading indicators are showing,” Goldstein said. “And in some sense, despite this little bit of a ‘breather’ if you like here, in terms of consumer confidence, the consumers are looking at the same thing.”

The prevailing thought is that the slight reversal in April can be pinned on doubt about current economic conditions. But the outlook for growth remains steady.

“I think that overall here, we’re stepping up a little bit,” Goldstein said. “It’s as if that traffic jam on the Parkway is finally breaking up.”

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