Consumer Sentiment increased in April to 95.9
The University of Michigan said Friday that its preliminary index of sentiment climbed to 95.9 this month from 93 in March. Analysts were anticipating smaller incline to 93.8. Consumers were more upbeat about the economy, their current financial situations and the buying climate, indicating spending will pick up after a lackluster performance in the first quarter. At the same time, households have a dimmer view about their income prospects, meaning shoppers will keep seeking out discounts from merchants.
“Consumers have judged their inflation-adjusted incomes more favorably in the past several months than any time since 2007,” Richard Curtin, director of the Michigan Survey of Consumers, said in a statement. “Despite the recent gains, real income expectations are still at historically low levels. Given these income constraints, consumers have increasingly made their purchases contingent on what they consider attractively low prices.”
Data did not have any huge impact on the markets. Euro is currently being traded slightly below 1.0770 area, Sterling is below 1.50 handle, while Aussie is few points above 0.7780 level.
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