Updated: 26-Apr-24 10:18 ET
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Updated: 26-Apr-24 10:18 ET |
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Highlights
- The final April University of Michigan Index of Consumer Sentiment checked in at 77.2 (Briefing.com consensus 77.9) versus the preliminary reading of 77.9 and the final reading of 79.4 for March.
- In the same period a year ago, the index stood at 63.7.
- The index has held in a narrow 2.5 index point range since January.
Key Factors
- The Current Economic Conditions Index dipped to 79.0 from the preliminary reading of 79.3 and the final reading of 82.5 for March. In the same period a year ago, the index stood at 68.5.
- The Index of Consumer Expectations slipped to 76.0 from the preliminary reading of 77.0 and the final reading of 77.4 for March. In the same period a year ago, the index stood at 60.6.
- Year-ahead inflation expectations increased to 3.2% from the preliminary reading of 3.1% and the final reading of 2.9% for March.
- Long-run inflation expectations held steady from the preliminary reading of 3.0%, which was up from 2.8% in March.
Big Picture
- The key takeaway from the report is that consumer sentiment is holding steady despite an uptick in inflation expectations. Presumably, that can be owed to the ongoing strength in the labor market and rising personal income.
Category |
APR |
MAR |
FEB |
JAN |
DEC |
Sentiment |
77.2 |
79.4 |
76.9 |
79.0 |
69.7 |
Outlook |
76.0 |
77.4 |
75.2 |
77.1 |
67.4 |
Present conditions |
79.0 |
82.5 |
79.4 |
81.9 |
73.3 |