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U of Michigan consumer sentiment index (preliminary) for April 65.7 versus 59.0 estimate
U. of Michigan April 2022 consumer sentiment index • prior month 59.7 • Consumer sentiment index 65.7 vs 59.0 estimate • Current conditions 68.1 vs 68.0 estimate • Expectations 64.1 vs 54.2 estimate • 1 year inflation 5.4% % vs 5.4% • 5 year inflation 3.0% % vs 3.0% Much better than expected consumer sentiment, but still near lower levels after the recent declines.
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UMich Sentiment Survey Surges In April On Biggest Spike In 'Hope' In 16 Years
Preliminary April expectations for University of Michigan's Sentiment Survey were for a further deterioration in Americans' confidence, but, despite collapse in President Biden's approval rating back to its lows, UMich surged higher in flash April data. The headline print exploded from 59.4 to 65.7 (against expectations of a drop to 59.0) thanks to a massive spike in 'hope' as Expectations jumped from 54.3 to 64.1 (vs 53.6 exp), bouncing of an 11 year low... chart That is the biggest jump in expectations since Sept 2006. Even UMich itself was shocked... "Consumer Sentiment jumped by a surprising 10.6% in early ... (full story)