- Coldplay ticket scalping fiasco sparks backlash in India
- Droughts drive Spanish boom in pistachio farming
- Tokyo recovers some losses to lead Asian markets higher
- Rural schools empty in North Macedonia due to exodus
- US dockworkers launch strike after labor contract expires
- Thousands evacuated as Super Typhoon Krathon approaches Taiwan
- Kenya airport whistleblower fears for his life
- Sheinbaum to take office as Mexico's first woman president
- Scientists fear underfunded Argentina research on verge of collapse
- US port officials gird for strike despite last-minute bargaining
- With 118 dead from Hurricane Helene, Biden defends US government response
- Breeder who tried to create enormous trophy sheep jailed in US
- Qatar Airways seeking 25% stake in Virgin Australia
- US port officials gird for strike as labor talks stay stuck
- As toll crosses 100, Trump puts Hurricane Helene at election center stage
- US Fed Chair sees 'further disinflation' in economy
- Epic Games sues Google and Samsung over app store
- Officials see no shortages from likely US port strike
- UK families of Gaza hostages warn Lebanon attack 'takes focus away'
- Shares in Stellantis, Aston Martin skid on profit warnings
- Dali prints found in London garage sold at auction
- ECB chief backs bank mergers amid UniCredit, Commerzbank talk
- China stocks soar on stimulus, but US and Europe retreat
- 100 dead in storm Helene damage, flooding across US southeast
- China stocks soar on stimulus, Europe slides on automaker woes
- German antitrust watchdog steps up monitoring of Microsoft
- Nepal's urban poor count cost of 'nightmare' floods
- E.Guinea, Gabon clash at ICJ over oil-rich islands
- New blow for UK's Starmer as growth data disappoints
- China's top banks to tweak mortgage rates to boost housing market
- Muslim women break taboos navigating east London's waterways
- Nepal dam-building spree powers electric vehicle boom
- More than 60 dead from storm Helene as rescue, cleanup efforts grow
- Dozens missing, 9 dead in migrant boat wreck off Spanish Canaries
- Death toll from Hurricane John hits eight in Mexico
- Storm Helene's toll rises as rescue and cleanup efforts gain pace
- SpaceX launches mission to return stranded astronauts
- Storm Helene kills 44, threatens more 'catastrophic' flooding as cleanup begins
- SpaceX set to launch mission to return stranded astronauts
- Storm Helene kills 44, threatens more 'catastrophic' flooding
- Boeing strike grinds on as latest talks fail to reach agreement
- Iran 'news' sites, hackers target Trump ahead of US election
- US ports brace for potential dockworkers strike
- Japan's speedy, spotless Shinkansen bullet trains turn 60
- US hurricane deaths rise to 44, fears of more 'catastrophic' flooding
- Global stocks mostly rise, cheering Beijing stimulus
- Europe en route for Moon with new simulator, says astronaut Pesquet
- Fireworks forecast if comet survives risky Sun flypast
- Argentina judge orders dictionary to delete pejorative definition of 'Jewish'
- Global stocks rise on rate hopes, Beijing stimulus
US consumer outlook holds steady despite inflation, war: survey
Americans' outlook for the world's largest economy improved slightly in April, despite ongoing concerns about inflation and the war in Ukraine, a survey released Tuesday said.
But with inflation at a 40-year high and drivers seeing soaring prices at the gas pump, feelings about the present situation worsened somewhat, according to The Conference Board's consumer confidence index.
Consumer confidence slipped to 107.3, just slightly below the March level of 107.6, while the present situation index dipped to 152.6 but the expectations index, based on consumers' short-term outlook for income, business and jobs, edged up to 76.7.
"Expectations, while still weak, did not deteriorate further amid high prices, especially at the gas pump and the war in Ukraine," said Lynn Franco, the institution's senior director of economic indicators.
And though views on the current situation fell, the indicator "remains quite high, suggesting the economy continued to expand in" the early months of the second quarter, Franco said in a statement.
While vacation intentions cooled, consumers' plans to buy big ticket items rose, and concerns about inflation retreated from an all-time level in March, the report said.
Franco cautioned that "inflation and the war in Ukraine will continue to pose downside risks to confidence and may further curb consumer spending this year."
Mahir Rasheed of Oxford Economics said expectations that inflation has peaked may inject optimism into US consumers, but cautioned that the descent will be slow.
"Confidence has held up relatively well in the face of elevated geopolitical disruptions and the fiery pace of price increases in recent months," he said in an analysis.
"A red-hot labor market and a more encouraging outlook suggests confidence should not deteriorate further unless risks metastasize in the months ahead."
Y.Ibrahim--CPN