4/16, 4:01 PM (Source: TeleTrader)
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US consumer confidence rises slightly in April

Consumer Sentiment Index in the United States increased 1.9% on a monthly basis to 86.5 points in April, according to a preliminary report published by the University of Michigan on Friday. The index soared 20.5% year-over-year.

Current Economic Conditions Index jumped 4.5% month-on-month and surged 30.8% compared to April 2020.

Meanwhile, the Index of Consumer Expectations was unchanged from the previous month and advanced 13.5% on an annual basis.

"Overall, the data support an ongoing surge in consumer spending, but given persistent uncertainty about the course of covid-19 and inflation, cautious drawdowns of savings can be anticipated. This shift has increased the reliance of the recovery in consumer spending on actual gains in job and incomes," Surveys of Consumers Chief Economist Richard Curtin said in the report.

Breaking the News / MS