Consumer Sentiment Rises To 69.6 In Preliminary April Report
Apr 15, 2011
The Thomson Reuters/University of Michigan survey of American consumer sentiment hit 69.6 in its preliminary reading for April, up from 67.5 in March.
Barclays Capital analysts said in a research note in advance of the data's release, "The equities market has recovered somewhat since its recent low in mid-March and we think that this should support consumer expectations. However, energy prices remain elevated and have continued to rise further over the recent period."
Economists had been expecting a reading of 69. The rise comes after a big drop in March from February, as consumers showed concern about Middle Eastern unrest, the rising price of oil, and the devastating Japanese natural disaster.
The current conditions index was 82.7, up from 82.5 the month prior, while the future expectations gauge came in at 61.2, up from 57.9.
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