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UMich US April consumer sentiment 63.5 vs 62.0 expected
UMich consumer sentiment beats estimate • Prior was 62.0 • Current conditions 68.6 vs 67.3 expected (prior 66.3) • Expectations 60.3 vs 60.0 expected (prior 59.2) • 1-year inflation 4.6% vs 3.6% prior • 5-10 year inflation 2.9% vs 2.9% prior I don't think the headlines of this indicator have any predictive value at all but the Fed watches the inflation numbers and that jump in 1-yaer inflation is worrisome as it's the highest since December.
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US: UoM Consumer Confidence Index improves modestly to 63.5 in April vs. 62 expected
Consumer sentiment in the US improved modestly in early April with the University of Michigan's (UoM) Consumer Confidence Index rising to 63.5 (preliminary) from 62 in February. This reading came in better than the market expectation of 62. "Year-ahead inflation expectations rose from 3.6% in March to 4.6% in April," the UoM further noted. "Uncertainty over short-run inflation expectations continues to be notably elevated, indicating that the recent volatility in expected year-ahead inflation is likely to continue. The bumpiness in inflation expectations is limited to the short run as long-run inflation ... (full story)
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