Ann Arbor, MI, April 15--The University of Michigan's consumer sentiment index fell to 87.7 in mid-April from 92.6 in March, according to media reports on the proprietary research.
It's the lowest reading in 18 months. Economists were expecting a decline to about 91.3.
The current conditions index slipped to 103.9 from 108.0, the lowest since September.
The expectations index fell to 79.0 from 82.8. It's the lowest reading for expectations since March 2003, when the invasion of Iraq weighed on consumers.
Retail sales weakened in March as gasoline prices soared, according to the latest data from the Commerce Department. Job growth was tepid during the month as well.
