The University of Michigan’s gauge of consumer sentiment fell to 50.8% in a preliminary April reading from 57.0% in the prior month. It is the lowest level since June 2022. Sentiment has dropped for four straight months and is down 30% from December.
The index, compiled from a survey of around 500 consumers by the University of Michigan, is released in two versions, preliminary and revised. The preliminary data, which tends to have a greater impact, has shown a decrease in consumer sentiment. This lower than expected reading is generally perceived as negative or bearish for the USD.
In comparison to the previous reading of 57.0, the current figure of 50.8 reflects a notable decline in consumer sentiment. This decrease could potentially signal a slowing economy, as consumer sentiment often correlates with consumer spending, a major driver of economic growth.
Discover more from Zero Cash Burn TV
Subscribe to get the latest posts sent to your email.
