Make earnings with no risk
Automated AI-driven system makes the trades, you earn the money
Join now

US Consumer Sentiment Jumps 10% in April as Gas Expectations Decline

Increasing Golden Coins With Red Arrow Showing Upward Direction In Front Of Businessperson Calculating Bill

Consumer sentiment posted a monthly increase in April, driven mainly by higher economic expectations for the coming year.

Source: University of Michigan

QQQ is down 2.10%, while SPY is down 1.74%.

The Index of Consumer Sentiment was recorded at 65.2 in April, reflecting a 9.8% increase from the 59.4 registered in March, but indicating a 26.2% decline from the 88.3 seen in the same month last year.

The indicator for current economic conditions stood at 69.4, up 3.3% from 67.2 in March and 28.6% lower than 97.2 in April 2021. Consumer expectations were recorded at 62.5, up 15.1% from 54.3 in March and 24.4% down from 82.7 in April 2021.

Chief Economist Richard Curtin attributed the improved economic outlook to a sharp decline in gas price expectations, down to 0.4 cents from 49.6 in the previous month. The overall impact on sentiment was, however, “quite small.”

Curtin said the year-on-year decline indicates the impact of uncertainty due to the COVID-19 pandemic along with cross-currents such as the inflationary uptick, higher interest rates, and rising wages.


Eurozone Inflation Continues to Carve Record High as Energy Prices Surge

Previous article

Top 5 Shitcoins You Should Stay Away From

Next article

You may also like


Leave a reply

Your email address will not be published.

More in News