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Consumer Sentiment in U.S. Was Little Changed in April

Friday, Apr 28 2017
Consumer Sentiment in U.S. Was Little Changed in April

Household sentiment was little changed in April from the previous month, holding at an elevated level on optimism about personal finances, University of Michigan survey data showed. Final April index of sentiment stood at 97 (forecast was 98), after 96.9 in March, and down from a preliminary reading of 98.  Current conditions gauge, which measures Americans’ perceptions of their personal finances, eased to 112.7 from 113.2 the prior month. The preliminary April reading was 115.2.

Earlier GDP and Chicago PMI figures were released. The MNI Chicago Business Barometer increased to 58.3 in April from 57.7 in March, the highest level since January 2015. Optimism among firms about business conditions rose for the third month in a row. Three of the five Barometer components led April’s increase, with Production and Order Backlogs receding.

 

Real gross domestic product (GDP) increased at an annual rate of 0.7 percent in the first quarter of 2017, according to the "advance" estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2016, real GDP increased 2.1 percent. The Bureau emphasized that the first-quarter advance estimate released today is based on source data that are incomplete or subject to further revision by the source agency. 

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