Consumer Confidence Bounces Higher

Consumer confidence bounced in April from a three-month low, the New York-based Conference Board said Tuesday.

The group’s monthly index rose to a 65.4 reading, from a revised 63.8 reading in March. The originally reported 63.4 reading for March was a three-month low.

The April reading topped economists’ forecasts of a 64.5 reading, Bloomberg reported.

An improvement in confidence may increase consumer spending, which accounts for 70% of the economy.