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 The Thomson Reuters/University of Michigan's final April reading on
the overall index of consumer sentiment came in at 84.1, beating an
expectation of 83.0 in a Reuters survey and up from 80.0 the month
before. The preliminary April reading was 82.6.
The headline number was the highest reading since July 2013.
"Perhaps the more important question is whether consumer confidence
will show greater resistance to the backslides that have repeatedly
occurred in the past few years," survey director Richard Curtin said
in a statement.
"Resilience is dependent on positive long term economic
expectations. While near term expectations have improved
substantially, longer term expectations for personal finances as
well as the overall economy have not improved as much."
The survey's barometer of current economic conditions rose to 98.7,
its highest reading since July 2007, from 95.7 in March and above a
forecast of 97.2. The preliminary reading came in at 97.1.
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The survey's gauge of consumer expectations rose to 74.7 in April
from 70.0 in March and above an expected 73.7. It also beat the
preliminary reading for this month which was 73.3.
The survey's one-year inflation expectation was unchanged from the
March reading at 3.2 percent and a tick above the 3.1 percent in the
preliminary April reading. The survey's five-to-10-year inflation
outlook was also unchanged from last month at 2.9 percent after
edging up to 3.0 in the preliminary report.
(Reporting by Rodrigo Campos; editing by Meredith Mazzilli)
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