| Revised data released by the University of Michigan on Friday showed consumer sentiment in the U.S. deteriorated by more than previously estimated in the month of April. The University of Michigan said its consumer sentiment index for April was downwardly revised to 77.2 from a preliminary reading of 77.9. The decrease by the headline index came as the current economic conditions index fell to 79.0 in April from 82.5 in March, while the index of consumer expectations dipped to 76.0 in April from 77.4 in March. Meanwhile, the report showed year-ahead inflation expectations increased by slightly more than previously estimated, climbing to 3.2 percent in April from 2.9 percent in March. Long-run inflation expectations also rose to 3.0 percent in April from 2.8 percent in March, remaining elevated relative to the 2.2-2.6 percent range seen in the two years pre-pandemic. Powered by Commodity Insights |