The Thomson Reuters/University of Michigan final consumer sentiment index decreased to 89.0 in April from 91.0 in March, down from the preliminary estimate of 89.7 and missing expectations a rise to 90.0.
“All of the April decline was in the Expectations component, which fell by 4.8% from one month ago and by 12.6% from a year ago and by 14.7% from its January 2015 peak. The retreat from the 2015 peaks was evident across a wide range of expectations about prospects for the national economy,” the Surveys of Consumers chief economist at the University of Michigan Richard Curtin.
“The size of the decline, while troublesome, is still far short of indicating an impending recession,” he added.
The current economic conditions index increased to 106.7 in April from 105.6 in March, up from the preliminary reading of 105.4.
The index of consumer expectations declined to 77.6 in April from 81.5 in March, down from a preliminary reading of 79.6.
The one-year inflation expectations rose to 2.8% in April from 2.7% in March, up from the preliminary reading of 2.7%.
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