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The University of Michigan announced that the Consumer Confidence Index in its final reading rose to 97.2  in April from 96.9 in the previous estimate and came in slightly better than the market expectation of 97.

Key takeaways from the press release

  • When asked about their financial prospects for the year ahead, 44% of consumers anticipated improvements compared with just 8% who expected worsening finances.
    • This was the best overall reading since 2004.
  • When asked about longer term financial prospects, 60% reported in the April survey that they expected to be better off financially over the next five years.
  • The data indicate that inflation-adjusted personal consumption expenditures will grow by 2.5% in 2019.

April (final) results

  • Index of Consumer Sentiment at 97.2  vs 98.4  in March.
  • Index of Current Economic Conditions at 112.3  vs 113.3 in March.
  • Index of Consumer Expectations at 87.4  vs 88.8 in March.