U.S. Consumer Sentiment Deteriorates Modestly Less Than Estimated In April

RTTNews | 24 일 전
U.S. Consumer Sentiment Deteriorates Modestly Less Than Estimated In April

(RTTNews) - A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. deteriorated modestly less than previously estimated in the month of April.

The University of Michigan said its consumer sentiment index for April was upwardly revised to 52.2 from a preliminary reading of 50.8. Economists had expected the index to be unrevised.

Despite the upward revision, the consumer sentiment index is still down sharply from 57.0 in March and marks its lowest level since hitting 51.5 in July 2022.

The steep drop by the headline index came as the index of consumer expectations tumbled to 47.3 in April from 52.6 in March, while the current economic conditions index slumped to 59.8 in April from 63.8 in March.

"Consumers perceived risks to multiple aspects of the economy, in large part due to ongoing uncertainty around trade policy and the potential for a resurgence of inflation looming ahead," said Surveys of Consumers Director Joanne Hsu. "Labor market expectations remained bleak."

"Even more concerning for the path of the economy, consumers anticipated weaker income growth for themselves in the year ahead," she added. "Without reliably strong incomes, spending is unlikely to remain strong amid the numerous warnings signs perceived by consumers."

The report also said year-ahead inflation expectations surged to 6.5 percent in April from 5.0 percent in March, reaching the highest reading since 1981.

Hsu noted the spike by year-ahead inflation expectations, which marked four consecutive months of unusually large increases, was seen across all three political affiliations.

"After the April 9 partial pause in tariff increases, inflation expectations ebbed but remained substantially elevated relative to March," Hsu said.

Long-run inflation expectations also climbed to 4.4 percent in April from 4.1 percent in March, reflecting a particularly large jump among independents.

read more
U.S. Leading Economic Index Slumps More Than Expected In April

U.S. Leading Economic Index Slumps More Than Expected In April

The Conference Board released a report on Monday showing its reading on leading U.S. economic indicators slumped by more than expected in the month of April. The report said the leading economic index tumbled by 1.0 percent in April after sliding by a downwardly revised 0.8 percent in March.
RTTNews | 7 시간 27 분 전
U.S. Consumer Sentiment Unexpectedly Continues To Deteriorate In May

U.S. Consumer Sentiment Unexpectedly Continues To Deteriorate In May

Consumer sentiment in the U.S. has unexpectedly continued to deteriorate in the month of May, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index dipped to 50.8 in May after slumping to 52.2 in April. Economists had expected the index to inch up to 53.4.
RTTNews | 3 일 전
U.S. Import, Export Prices Unexpectedly Inch Higher In April

U.S. Import, Export Prices Unexpectedly Inch Higher In April

The Labor Department released a report on Friday unexpectedly showing modest increases by both U.S. import and export prices in the month of April. The report said import prices crept up by 0.1 percent in April after falling by a downwardly revised 0.4 percent in March.
RTTNews | 3 일 전
U.S. Business Inventories Inch Up Slightly Less Than Expected In March

U.S. Business Inventories Inch Up Slightly Less Than Expected In March

The Commerce Department released a report on Thursday showing a slight increase by U.S. business inventories in the month of March. The report said business inventories crept up by 0.1 percent in March after rising by 0.2 percent in February. Economists had expected business inventories to rise by another 0.2 percent.
RTTNews | 4 일 전
U.S. Homebuilder Confidence Unexpectedly Slumps In May

U.S. Homebuilder Confidence Unexpectedly Slumps In May

Reflecting growing uncertainties stemming from elevated interest rates, tariff concerns, building material cost uncertainty and the cloudy economic outlook, the National Association of Home Builders released a report on Thursday showing an unexpected slump by U.S. homebuilder confidence in the month of May.
RTTNews | 4 일 전