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.
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.