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THE ECONOMY.(TO THE POINT)
Consumer confidence fell in April
The Conference Board index eased to 108.8 from March's 110.7. It slightly beat estimates. The current conditions index fell to 107 from March's 111.5, as more people said jobs were hard to get. The expectations index was 110.0 in April vs. March's 110.2. The report confirmed a drop in the IBD/TIPP Economic Optimism Index released earlier in the month.
Weekly U.S. chain store sales cool
Cooler weather kept consumers away from stores and shopping malls in the week ended April 27, as U.S. chain store sales fell 1.7%. That offset a 1.4% gain in the prior week, the Bank of Tokyo-Mitsubishi and UBS Warburg said. Most retailers are on plan to meet monthly sales targets, the report said.
Treasury: Q1 productivity surged
Worker productivity likely grew at more than a 6.5% annual rate, a Treasury official said. That's up from a strong 5.2% rate of growth in output per worker-hour in Q4. Treasury doesn't expect a repeat of Q1's 5.8% GDP growth in Q2, but sees "moderate, but sustainable" gains.
ISI business activity index falls
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