Consumer Confidence Falls to 26-Year Low

U.S. consumer confidence fell to a 26-year low this month, according to the Reuters/University of Michigan monthly consumer sentiment index released Friday.

The preliminary for April fell to a reading of 63.2, from the 69.5 final reading in March, the survey said.

The reading was the lowest since March 1982 and compares with last year’s average of 85.2, Bloomberg reported.

Economists had predicted a reading of 69, Bloomberg said.