Consumer confidence rises to a 14-month high thanks to coronavirus vaccines and the resurgence of the economy

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The numbers: Consumer confidence jumped again in April to a 14-month high as rising vaccines, falling coronavirus cases and a resurgent US economy eased anxieties related to the pandemic, a new survey showed. . The consumer confidence index rose to 121.7 this month from a revised 109 in March, the Conference Board said Tuesday. That is the highest level since February 2020.

Economists polled by Dow Jones and the Wall Street Journal had forecast a reading of 113 for April. However, confidence has yet to return to pre-pandemic levels. The index hovered near a 20-year high of 132.6 shortly before the crisis began. The Big Picture: The economy has regained momentum this year in large part due to the increasing number of people vaccinated. That allowed states to ease restrictions and gave Americans more confidence to resume a somewhat normal life. What also helped was another massive dose of federal stimulus last month that increased unemployment benefits and included checks for $ 1,400 for most Americans. If coronavirus cases continue to decline, economists predict, US growth will accelerate further during the summer months and beyond. Market reaction: The Dow Jones Industrial Average DJIA, -0.10% and S&P 500 SPX, -0.11% fell in trading Tuesday, but stock indices remain near record highs.