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WASHINGTON - Consumer confidence sank during the past month, weighed down by worries about job security and concerns about local economic conditions in the months ahead. The AP-Ipsos consumer confidence index dropped to 84.8 this week, from a reading of 97.7 in early March, when Americans' feelings about the economy had shown an improvement from the previous month.
The decline in consumer confidence comes as other recent economic indicators suggest the overall national economy is gaining ground and that the jobs market may be finally turning an important corner.
The AP-Ipsos index isn't the "standard" one. That honor goes to the Conference Board, which comes out near the end of the month. But, for all the trolls who like to try and impress us by informing us that unemployment is a lagging indicator... consumer confidence is a leading one.