Consumer Sentiment Rises Despite Gasoline Prices

Ann Arbor, MI, April 29, 2011 -- Consumer sentiment rose in April, according to the Thomson Reuters/University of Michigan's consumer sentiment survey.

Consumers viewed the significant increase in gasoline prices as temporary, the survey showed.

The final April reading on the overall index came in at 69.8, up from 67.5 in March and up slightly from the preliminary reading of 69.6.

It was roughly inline with the median forecast of 69.9 among economists.

The survey's measure of current economic conditions held steady with March's reading of 82.5, while the survey's gauge of consumer expectations rose to 61.6 from 57.9.