Forex News

Consumer sentiment in the US is higher than forecast in April

In view of the consumer confidence level that exceeded expectations of a drop in consumer confidence, the University of Michigan released a report on Friday, according to which consumer sentiment in the US deteriorated not as much as originally expected in April.

The report says that the consumer sentiment index for April was revised upward to 98.8 with a preliminary reading of 97.8.

The revised indicator in the direction of growth exceeded the estimates of economists at 98.0, but it was still below the final March figure of 101.4.

Rich "The last figure for April was almost identical to the average of 2018 (98.9), which was higher than any other average for the year, since in 2000 107.6 were registered. "

The higher than expected revision of the leading index occurred against the background of a revision towards the growth of the consumer expectations index in April to 88.4 from 86.8, although it remained slightly below the March value of 88.8.

Current index economic conditions for April was revised downward I to 114.9 from 115.0 and lower compared to 121.2 in March.

As for inflation, annual inflation expectations fell to 2.7 percent in April from 2.8 percent in March, and the five-year inflation expectations amounted to 2.5 percent.