Consumer sentiment was essentially unchanged this month, inching up less than two index points from March. Sentiment data, as provided by the University of Michigan in its monthly report, is now about 3% below a year ago but 27% above the all-time low from last June. Rising sentiment for lower-income consumers was offset by declines among those with higher incomes. Consumers have noted the easing of inflation among durable goods and cars, but they still expect high inflation to persist, at least in the short run. (Source: University of Michigan)
Looking ahead to next week, the homebuilder confidence index for April will be released, followed by a report Tuesday on housing starts in March. On Wednesday, the Federal Reserve releases its latest Beige Book report. The U.S. leading economic indicators data for March will be released on Thursday, followed by Friday’s reports on S&P flash U.S. services PMI and U.S. manufacturing PMI. (Source: MarketWatch.com)
