Keeping you up to date on the latest data releases.
Preliminary numbers show that the University of Michigan’s Index of Consumer Sentiment increased 2.6 points to 82.6 in early April. This is the highest reading since August 2013. Both the current economic conditions and consumer expectations indexes contributed to the increase in the overall numbers. The current economic conditions index rose slightly to 97.1 from 95.7 in March. The consumer expectations index increased to 73.3, up from 70.0. Finally, buying attitudes toward household durables decreased from 148 to 142 in April’s preliminary results.
As for inflation expectations in early April, consumers expect a year-ahead inflation rate of 3.1 percent and a longer-term (five- to ten-years) rate of 3.0 percent.