(CercleFinance.com) – American consumer confidence deteriorated more sharply than initially estimated in April, the final results of the monthly survey from the University of Michigan showed on Friday.
The confidence index finally came out at 77.2, a level lower than the first estimate (77.9) and a clear decline compared to the level of 79.4 reached in March.
It is the component of households’ judgment of their current situation which has deteriorated most significantly, to 79 compared to 82.5 last month.
The expectations component fell to 76 this month after 77.4 in March.
Household inflation expectations, closely followed in these times of rising prices, were revised upwards, with a 12-month estimate finally settling at 3.2% this month, compared to 2. 9% in March.
Interestingly, almost six months before the presidential election, the survey reveals that it is the Republicans who have suffered the most marked drop in morale this month, unlike the Democrats and Independents.
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