US consumer confidence improves in April, Uni of Michigan says
US consumer sentiment improved slightly at the start of April, as inflation expectations fell back.
The University of Michigan’s index advanced to a reading of 95.9 from the 93 point level one year back.
Economists had been expecting a reading of 94.
A sub-index of consumers’ expectations rose to the 88 point mark from 85.3 at the end of March.
In parallel, a gauge of how consumers evaluate the current situation improved to 108.2 from 105.
Consumers’ inflation expectations one year ahead dropped back to 2.5% from 3%.
Over a longer time horizon, between five to 10 years out, expectations for inflation slipped to 2.6% from 2.8%.