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April’s preliminary reading of US consumer sentiment from the University of Michigan saw an increase to 63.5 from 62.0 in March. Expectations were for a substantially stable survey at 62.1 points.
The sub-index relating to the current situation unexpectedly grew from 66.3 to 68.6 points, as did the one on expectations which increased from 59.2 to 58.5 points.
1-year inflation expectations increase from 3.6% to 4.6%, while those for the next 5-10 years remain stable at 2.9%. Short-term expectations, on the highs for 2 years, are affected by the increase in gas prices.