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NEW YORK, April 11 (UPI) -- The RBC Consumer Attitudes and Spending by Household Index declined to its lowest monthly rating since the index began in 2002, RBC reported Friday.
The index fell to 29.5 in the April report from a reading of 33.1 in the March report.
The downturn "indicates a potential retrenchment by consumers and corroborates suspicions that the economy has slipped into a recession," said T.J. Marta, economic and fixed income strategist for RBC Capital Markets.
Among the indexes that make up the overall figure, the Expectations Index, dropped from minus 41.6 to a reading of minus 48.3. The Current Conditions Index held almost steady -- 54.6 compared with 54.7 in March. And the Job Index fell from 99.2 last month to 97.0, its lowest rating in four years, the report said.
The RBC Investment Index, also reached a low point at 56.4, down from 56.7 in March.
"Two-thirds of Americans (65 per cent) believe the next 30 days will be a bad time to invest in the stock market," the report said.
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