Consumer sentiment below expectations in preliminary April read

The University of Michigan's preliminary April consumer sentiment index reading was 97.8, compared to the final March 101.4 and the preliminary March reading of 102.0, according to market sources.

The expectations index was 86.8 compared to the final March 88.8 and the preliminary March 88.6.

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The Institute for Social Research, which releases the consumer sentiment report, on the campus of the University of Michigan in Ann Arbor, Michigan is seen on March 16, 2004. The University of Michigan said the FBI and college officials are investigating ``the unauthorized access and public release'' of its February consumer sentiment report. The index was published by the Market News International news service before being released to subscribers on Feb. 13, Richard Curtin, director of the university's Institute for Social Research, which compiles the index, said in an interview. Photographer: Brett Mountain/ Bloomberg News. Photo: BRETT MOUNTAIN)

The current conditions index was 115.0, compared to the final March 121.2 and the preliminary March 122.8, and the final February 114.9.

Economists polled by IFR Markets had predicted a 100.5 reading for the main index.

The five-year inflation expectation index was 2.4%, compared to 2.5% in March, while the one-year inflation expectation index was 2.7%, compared to 2.8% in March.

The University of Michigan index is not released to the press, but only to paying subscribers.

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