Consumer confidence in the USA remained below expectations in April – Last Minute Economic News

The University of Michigan announced the consumer confidence index preliminary data for April, prepared in line with the trends of American consumers.

Accordingly, consumer confidence decreased by 1.5 points to 77.9 in April compared to the previous month.

The consumer confidence index, which was below market expectations, was expected to reach 79 in this period. Consumer confidence index was at 79.4 in March.

The current economic conditions index, which measures Americans’ assessment of current financial conditions, decreased by 3.2 on a monthly basis to 79.3 in April.

The consumer expectations index, which reflects the long-term predictions of consumers, decreased by 0.4 points to 77 in the same period.

INFLATION EXPECTATIONS HAVE INCREASED

Consumers’ short-term inflation expectations increased by 0.2 points on a monthly basis to 3.1 percent in April. Long-term inflation expectation also increased from 2.8 percent to 3 percent.

Consumer Surveys Director Joanne Hsu, whose views were included in the statement, noted that consumers perceived little change in the state of the economy since the beginning of the new year, and that expectations regarding personal finance, business conditions and labor markets have all remained stable in the last 4 months.

However, Hsu stated that the slight increase in inflation expectations in April reflected some disappointment that the slowdown in inflation might have stopped. “In general, consumers reserve their judgments about the economy in light of the upcoming elections. In the opinion of many consumers, the elections can have a significant impact on the course of the economy.” he said.