US consumer confidence slips — probably because of Trump’s troubles
Indicators point to healthy fundamentals but economist notes concern at lack of real policy changes
Washington — US consumer confidence fell from a more than 16-year high in April, but a surge in new home sales to an eight-month high in March suggests underlying strength in the economy despite an apparent sharp slowdown in growth in the first quarter. The economy’s healthy fundamentals were also underscored by other data on Tuesday showing the biggest year-on-year increase in house prices in two-and-a-half years in February. Though consumer confidence slipped in April, it remained at a very high level and many households expected to buy big-ticket items like cars. That would suggest an acceleration in consumer spending after a slowdown that probably helped restrain economic growth at the start of the year. "The housing market continues to look quite good. Consumers also have more jobs and are getting higher wages, so they will likely increase their spending this year," said Gus Faucher, chief economist at PNC Financial Services Group in Pittsburgh. The Conference Board said its co...
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