United States: Consumer sentiment improves somewhat after March?s plunge
April 29, 2011
The Reuters/University of Michigan index of consumer sentiment rose from a 17-month low of 67.5 points in March to 69.8 points in April. Despite the improvement, consumer confidence is still 2.4 points below the level observed in the same month last year. In the five years leading up to the recession that began in December 2007, the index averaged 89 points. Consumer pessimism eased somewhat in April as respondents lowered their long-term inflation expectations from last month's projections. Meanwhile, short-term inflation expectations were unchanged from March to April. In contrast, the outlook for the job market remains a major concern, since high unemployment curbs consumers' spending.