U.S. Consumer Sentiment Index Drops More Than Expected In April
12 April 2019 - 8:14PM
RTTF2
After reporting a notable improvement in U.S. consumer sentiment
in the previous month, the University of Michigan released a report
on Friday showing sentiment has deteriorated by more than
anticipated in the month of April.
The preliminary report showed the consumer sentiment index
dropped to 96.9 in April from the final March reading of 98.4.
Economists had expected the index to edge down to 98.0.
The bigger than expected decrease by the headline index
reflected less optimism about the economic outlook, as the index of
consumer expectations slid to 85.8 in April from 88.8 in March.
On the other hand, the report said the current economic
conditions index inched up to 114.2 in April from 113.3 in the
previous month.
Surveys of Consumers chief economist Richard Curtin described
the decrease by the consumer sentiment as "insignificant," saying,
Consumer confidence continued its sideways shuffle in early
April."
"Overall, the level of the Sentiment Index during the past 30
months was higher than any other time since 1997 to 2000, the final
phase of the record 10-year expansion," Curtin said.
With regard to inflation, one-year inflation expectations edged
down to 2.4 percent in April from 2.5 percent in March and
five-year inflation expectations dipped to 2.3 percent from 2.5
percent.
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