by Bill McBride on 4/15/2016 01:29:00 PM
Friday, April 15, 2016
The preliminary University of Michigan consumer sentiment index for April was at 89.7, down from 91.0 in March:
Consumer confidence continued its slow overall decline in early April, marking the fourth consecutive monthly decline. To be sure, the sizes of the recent losses have been quite small, with the Sentiment Index falling just 2.9 Index-points since December 2015, although it was down 6.2 Index-points from a year ago and 8.4 points below the peak in January 2015. None of these declines indicate an impending recession, although concerns have risen about the resilience of consumers in the months ahead. Consumers reported a slowdown in expected wage gains, weakening inflation-adjusted income expectations, and growing concerns that slowing economic growth would reduce the pace of job creation. These apprehensions should ease as the economy rebounds from its dismal start in the first quarter of 2016.This was below the consensus forecast of 91.8.
Click on graph for larger image.
Posted by Bill McBride on 4/15/2016 01:29:00 PM