Consumer Sentiment Rose 2.4% in April

Ann Arbor, MI, April 28, 2023-Consumer sentiment rose 2.4% in April to 63.5, according to final results from the University of Michigan Survey of Consumers.

This represents a 2.6% decline year over year.

“Consumer sentiment was little changed this month, inching up less than two index points from March,” says Survey of Consumers director Joanne Hsu. “Buying conditions for durables improved 11% primarily on the basis of easing perceptions of unaffordability. Despite the increasingly negative news on business conditions heard by consumers, their short and long-run economic outlook improved modestly from last month. These improvements were balanced by worsening assessments of personal finances due to higher expenses, reflecting the ongoing pain stemming from continued high prices.”