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Financial News: U.S. Consumer Sentiment Index Drops More Than Expected

U.S. Consumer Sentiment Index Drops More Than Expected In April

04/12/2024 - 10:07:00 (RTTNews)

(RTTNews) - Consumer sentiment in the U.S. has deteriorated by more than expected in the month of April, according to preliminary data released by the University of Michigan on Friday.

The University of Michigan said its consumer sentiment fell to 77.9 in April from 79.4 in March. Economists had expected the index to edge down to 79.0.

The report also said year-ahead inflation expectations rose to 3.1 percent in April from 2.9 percent in March, climbing just above the 2.3-3.0 percent range seen in the two years prior to the pandemic.

Long-run inflation expectations also increased to 3.0 percent in April from 2.8 percent in March, the University of Michigan said.

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