(CercleFinance.com) – American consumer confidence deteriorated more than expected in April, according to the first results of the monthly survey from the University of Michigan published this Friday.
The confidence index stood at 77.9 this month, compared with a figure of 79.4 in March, while economists expected a more limited decline, around 79.
The sub-index measuring consumers’ judgment on the current situation fell to 79.3, after 82.5 last month, as did the sub-index assessing their expectations, which fell to 77 in April. compared to 77.4 in March.
According to Joanne Hsu, the author of the report, this deterioration is primarily due to the rise in household inflation expectations, with a 12-month estimate standing at 3.1% this month. , compared to 2.9% in March, a level again higher than the range of 2.3% to 3% which prevailed before the Covid epidemic.
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