Consumer Confidence Rises to Four-Year High

.S. consumer confidence rose this month to the highest level in four years, the New York-based Conference Board said Tuesday.

The board’s index rose to 109.6 from a revised 107.5 in March, the group said in its monthly report.

The level was well above economists’ estimates of a drop to 106.2, Bloomberg reported, and exceeded analysts’ highest-level forecasts.

The consumer confidence index is a predictor of consumer spending. When people are feeling less confident about the economy, they are less likely to spend money, which decreases demand for trucking services.

The present-situation index rose to 136.2, the highest since August 2001, from 133.3 in March.

The gauge of consumer expectations for the next six months rose to 91.9 from 90.3.

Every month the Conference Board surveys 5,000 households on general economic conditions, their employment prospects and spending plans.