Published Apr 12, 2019 10:00AM ET
Updated Apr 12, 2019 10:20AM ET
U.S. Consumer Sentiment Falls as Outlook for Economy Weakens
(Bloomberg) -- U.S. consumer sentiment fell in April for the first time in three months, missing estimates, as the long-term economic outlook dropped to the lowest in more than a year and enthusiasm over tax cuts waned.
The University of Michigan's preliminary sentiment index decreased to 96.9 from the prior month’s 98.4, according to a report Friday. The median estimate of economists surveyed by Bloomberg was 98.2. The gauge of current conditions rose to a four-month high of 114.2, while the expectations gauge fell to 85.8.
Key Insights
Official's View
“Consumer confidence continued its sideways shuffle in early April, posting an insignificant decline following the small gain recorded last month,” Richard Curtin, director of the University of Michigan consumer survey, said in a statement.
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Written By: Bloomberg
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