Consumers lose confidence in economic turnaround

Survey: Americans cut back on spending as conditions worsen

Consumer confidence deteriorated further in April as weak business and job conditions and rising food and gas prices force Americans to tighten their spending, The Conference Board reported today.

The Consumer Confidence Index fell to 62.3 this month from a reading of 65.9 in March, with the Present Situation Index diving 10 points, from 90.6 to 80.7.