Updated: 12-Apr-24 10:18 ET

April Univ. of Michigan Consumer Sentiment - Prelim

Updated: 12-Apr-24 10:18 ET

Highlights

• The preliminary April University of Michigan Index of Consumer Sentiment checked in at 77.9 (Briefing.com consensus 78.8) versus the final reading of 79.4 for March.
• In the same period a year ago, the index stood at 63.7.

Key Factors

• The Current Economic Conditions Index fell to 79.3 from 82.5 in March.
• The Index of Consumer Expectations dipped to 77.0 from 77.4 in March.
• Year-ahead inflation expectations rose to 3.1% from 2.9% in March.
• Long-run inflation expectations jumped to 3.0% from 2.8%.

Big Picture

• The key takeaway from the report is the uptick in inflation expectations, which follows form with the larger-than-expected increase in the March Consumer Price Index and the view from various Fed officials that stickier inflation readings mean the Fed can be patient before cutting rates.

Category	APR	MAR	FEB	JAN	DEC
Sentiment	77.9	79.4	76.9	79.0	69.7
Outlook	77.0	77.4	75.2	77.1	67.4
Present conditions	79.3	82.5	79.4	81.9	73.3