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Financial News: U.S. Consumer Sentiment Nearly Unchanged In April

U.S. Consumer Sentiment Nearly Unchanged In April

04/28/2017 - 10:35:00 (RTTNews)

(RTTNews) - After initially reporting an improvement in U.S. consumer sentiment in the month of April, the University of Michigan released revised data on Friday showing that sentiment was nearly flat.

The report said the consumer sentiment index for April was downwardly revised to 97.0 from the preliminary reading of 98.0. Economists had expected the index to be unrevised.

With the unexpected downward revision, the consumer sentiment index is nearly unchanged compared to 96.9 in March.

"Consumer sentiment continued to travel along the high plateau established following Trump's election, with only minor deviations from its five month average of 97.4," said Richard Curtin, the survey's chief economist.

The current economic conditions index for April was downwardly revised to 112.7 from 115.2 and is now below the 113.2 seen in March.

Meanwhile, the index of consumer expectations for April was upwardly revised to 87.0 from 86.9 and is up modestly compared to 86.5 in the previous month.

The report said one-year and five-year inflation expectations in April were both unchanged from March at 2.5 percent and 2.4 percent, respectively.

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