Confidence among U.S. consumers cooled in April from a one-year high, a sign the moderation in job growth may limit the biggest part of the economy.
The Thomson Reuters/University of Michigan’s preliminary index of sentiment dropped to 75.7 from 76.2 last month. The measure was projected to be unchanged, according to a median forecast in a Bloomberg News survey of economists.
Tempered optimism follows the slowest month of job growth since October and a drop in weekly earnings that may restrain household purchases that account for about 70 percent of the economy. Another report showed consumer prices advanced at a slower pace in March, giving Federal Reserve policy makers room to maintain low borrowing costs.