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The Conference Board’s Consumer Confidence Index crated in April, as expected, from 118.8 to 86.9. The most interesting aspect of this report, as we saw in the University of Michigan survey, is that the Expectations Index remained strong and even increased from 86.8 in March to 93.8 in April. Normally the present situation and expectations move together, but this suggests that most consumers think the crisis will pass quickly.
Construction Spending
In what will likely be the last bit of positive news we see on the construction front, spending increased 0.9% in March