The University of Michigan’s preliminary April consumer sentiment index reading was 69.5 compared to the final March 73.6, the preliminary March 72.5 reading, and the final February 73.6, according to market sources.

Economists polled by Thomson Reuters had predicted a 75.0 reading for the index.

The expectations index was 62.3 compared to 67.9 last month, 67.2 earlier in March, and 68.4 in February.

The current conditions index was 80.7 compared to 82.4 in March, 80.8 earlier in March, and 81.8 in February.

Economists polled by Thomson Reuters had predicted an 84.0 reading for the current conditions index and 68.7 for the expectations index.

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