Consumer Sentiment increased 0.1 point in April to 97.0, according to the University of Michigan Consumer Sentiment Index.
The Current Economic Conditions Index fell 0.5 point to 112.7, while the Consumer Expectations Index rose 0.5 point to 87.0.
“Consumer sentiment continued to travel along the high plateau established following Trump’s election, with only minor deviations from its five month average of 97.4. There was widespread agreement among consumers on their very positive assessments of the current state of the economy as well as widespread disagreement on future economic prospects,” said Richard Curtin, chief economist of UM Surveys of Consumers. “Although the partisan divide has slightly narrowed in recent months, it still reflects a very pessimistic economic outlook among Democrats and a very optimistic outlook among Republicans. The partisan divide on the Expectations Index was 51.0 points in April (61.4 vs. 112.4), down from last month’s 63.1 (59.4 vs. 122.5), with Republicans moderating their optimism more than Democrats reduced their pessimism. Selective perception of news is the driving force behind the partisan divide.”
Read the University of Michigan Surveys of Consumers release.