Consumer confidence sinks

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Friday, April 9, 2004 | 9:09 a.m.

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 turning an important corner.

The April consumer confidence reading was taken after the government released a report April 2 showing the nation's payrolls in March posted their biggest gains in four years.