Friday, April 26, 2013

Consumer Sentiment Declined in April

Consumer Sentiment dropped 2.2 points in April to 76.4, according to the University of Michigan’s Consumer Sentiment index. Consumer sentiment is extremely vulnerable the debate taking place in Washington, dropping almost 10 points during the fiscal cliff negotiations. The sequester may be partially responsible for April’s decline. April’s reading is the lowest since the fiscal cliff debate in late December and January.

The dip in consumer sentiment for April was due both to present and future expectations declining to 84.8 and 64.2 respectively.

Inflationary expectations were mixed in April, with one-year expectations dropping to 3.0% and five-year expectations remaining constant at 2.8%

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