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Economy

Consumer Sentiment at Nine-Month High in April

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By Paul Ausick Updated Published
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The final April reading on the Thomson Reuters/University of Michigan Consumer Sentiment Index rose to 84.1, near its highest reading since 2007. A survey of economists by Bloomberg had a consensus estimate for a reading of 82.5, compared with a preliminary reading of 82.6 earlier this month. In July of 2013, the index reading was 85.1, and the final March reading was a weak 80.0.

The survey’s measure of current economic conditions rose from 95.7 to 98.7. The subindex measuring consumer expectations also rose, from 70.0 to 74.7. Expectations for one-year inflation were unchanged from March at 3.2%, and five- to ten-year inflation expectations rose also remain unchanged at 2.9%.

The survey’s chief economist noted:

The most important issue is whether or not consumers will show greater resistance to the backslides that have repeatedly occurred in the past few years. Resilience among consumers is dependent on positive long term economic expectations.

Consumers have become more optimistic about job gains even though they expect only modest improvement in the country’s unemployment rate. Low mortgage interest rates are attracting more home buyers, although first-time buyers continue to face lender qualification hurdles.

ALSO READ: Weekly Jobless Claims Surge Higher

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About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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