Ekonomické zprávy

U.S. consumer sentiment improves as initially estimated in April

The final reading for the February Reuters/Michigan index of consumer sentiment came in at 63.5 in April compared to the flash reading of 63.5 and the March final reading of 62.0.

Economists had predicted the indicator to remain unrevised at 63.5.

The details of the latest Surveys of Consumers of the University of Michigan showed that the index of current economic conditions jumped 2.9 percent m-o-m to 68.2 this month, while the index of consumer expectations climbed 2.2 percent m-o-m to 60.5.

The report also revealed that the estimates of year-ahead expected inflation surged from 3.6 percent in March to 4.6 percent in March, in line with the preliminary estimates. That was the highest reading since November 2022 (4.9 percent). Meanwhile, the 5-year inflation expectations increased from 2.9 percent in March to 3.0 percent, compared to the preliminary estimate of 2.9 percent. That was the highest reading since November 2022 (3.0 percent).

Commenting on the latest results, Joanne Hsu, Surveys of Consumers Director, noted that consumers’ short- and long-run economic outlook improved modestly in April, despite the increasingly negative news on business conditions. She added, however, that these improvements were offset by worsening assessments of personal finances due to increased expenses, reflecting the ongoing pain stemming from continued high prices.

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