NEW YORK, April 25 (UPI) -- U.S. consumer confidence rose in April to its highest level since May 2002, an industry group said Tuesday.
The Conference Board also said its consumer confidence index, which had increased in March to 107.5, improved further in April to 109.6.
Economists had expected the index to slip slightly in April.
"Improving present-day conditions continue to boost consumers' spirits," said Lynn Franco, director of The Conference Board Consumer Research Center.
"Recent improvements in the labor market have been a major driver behind the rise in confidence in early 2006. Looking ahead, consumers are not as pessimistic as they were last month. However, expectations for the economy and labor market have been trending downward since peaking in 2003. And, while prices at the pump have yet to impact confidence, further increases could dampen consumers' mood."
