By Erik Wasson - 04/24/12 02:30 PM EDT
Consumer confidence stabilized this month after dropping in March, according to the benchmark Conference Board Consumer Confidence Index.
The index stands at 69.2 out of 100, with 100 representing the robust sentiment of 1985.
In March the index stood at 69.5.
The index is made up of long- and short-term expectations about
employment and the economy more generally.
In a worrisome sign for President Obama, only 18.8 percent of those surveyed expected business conditions to improve over the next six months, down from 19.3 percent. Only 16.9 percent expect more jobs to be available.
“As was the case last month, the slight dip was prompted by a moderation in consumers’ short-term outlook, while their assessment of current conditions continued to improve,” said the Conference Board’s Lynn Franco.
“Overall, consumers are more upbeat about the state of the economy, but they remain cautiously optimistic,” she said.