April TV-Buying Plans Plunged, But Consumer Confidence Up
Consumer intentions on buying new TV sets plunged in April from March, according to preliminary Conference Board data released Tuesday. Nielsen canvassed 5,000 U.S. homes through April 16, finding 10% planned to buy a new TV in the next six…
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months, down from 11.4% in March and 13.2% in April 2020, said the board. Lower TV-buying intentions in April were possibly a telltale residue of the historic pull-in demand for consumer tech goods during COVID-19 pandemic lockdowns last year. Consumer confidence across the board climbed sharply for the second straight month to its highest level since February 2020. "Consumers' assessment of current conditions improved significantly in April, suggesting the economic recovery strengthened further in early Q2,” said the board. “Consumers were more upbeat about their income prospects, perhaps due to the improving job market and the recent round of stimulus checks.”