April consumer-confidence gauge declines to 69.2 (by Ruth Mantell)

WASHINGTON (MarketWatch) -- A gauge of U.S. consumer confidence has declined for a second month, ticking down in April on lower expectations, even as views on the present situation increased, the Conference Board reported Tuesday. The consumer-confidence index fell to 69.2 in April from a revised March reading of 69.5. A prior estimate had pegged March's confidence level at 70.2. "As was the case last month, the slight dip was prompted by a moderation in consumers' short-term outlook, while their assessment of current conditions continued to improve," said Lynn Franco, director of the Conference Board's consumer research center. "Overall, consumers are more upbeat about the state of the economy, but they remain cautiously optimistic." Generally when the economy is growing at a good clip, confidence readings are at least 90. Economists polled by MarketWatch had expected a reading of 70 for April.