Sentiment Index for Past 30 Months Posted Highest Levels Since 1997-2000
The preliminary reading on consumer sentiment for April eased back slightly and missed the consensus forecast, though remains elevated. Last month, the prelim showed a decline only to see a beat in the final read.
|Survey of Consumers||Prior||Consensus||Range||Actual|
|Consumer Sentiment Index||98.4||98.0||96.0 to 99.5||96.9|
|Current Economic Conditions||113.3||NA||NA||114.2|
|Index of Consumer Expectations||88.8||NA||NA||85.8|
The Current Economic Conditions Index rose slightly from 114.2 in March to 113.3 in April, while the Index of Consumer Expectations lost 3 points to 85.8.
“Consumer confidence continued its sideways shuffle in early April, posting an insignificant decline following the small gain recorded last month,” Richard Curtain, chief economist for the Survey of Consumers said.
“Overall, the level of the Sentiment Index during the past 30 months was higher than any other time since 1997 to 2000.”
That was the final phase of the record 10-year expansion; “a record that will be soon overtaken by the current expansion,” Mr. Curtain added.