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Consumer confidence tanks below expectations

Akin Oyedele
iphone store launch happy customer
iphone store launch happy customer

( Chris McGrath/Getty)
Consumer confidence has softened.

The Conference Board's Consumer Confidence Index for April reading came in at 95.2, below expectations for a climb to 102.2 from 101.3 in March.

Last month, the index crushed expectations, beating the consensus forecast of 96.4.

Ahead of the release, Bank of America Merril Lynch economists noted that the weak jobs report in March, as well as climbing gas prices, may have made consumers a little less optimistic about the economy.

More to come ...

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