Consumer sentiment continued to trend higher throughout the month of April, though not exactly reaching economists’ expectations, according to monthly data from a University of Michigan survey released Friday.
The University of Michigan’s Consumer Sentiment Index hit 97 in April, while economists were expecting the index to hit 98 for the month, according to Thomson Reuters consensus estimates.
“There was widespread agreement among consumers on their very positive assessments of the current state of the economy as well as widespread disagreement on future economic prospects,” the group said.
Last month the index had a final reading of 96.9 for March, with consumers’ attitudes remaining “quite favorable,” data showed. However, the final reading came in below economists’ expectations, disappointing those who had been monitoring the numbers closely.
The survey’s reading on current economic conditions was 112.7 for the month, slightly down from a final reading of 113.2 in March.
“Although the partisan divide has slightly narrowed in recent months, it still reflects a very pessimistic economic outlook among Democrats and a very optimistic outlook among Republicans,” Richard Curtin, the group’s chief economist, wrote in a statement.
This monthly survey by the University of Michigan measures 500 consumers’ attitudes toward topics such as personal finances, inflation, unemployment, government policies and interest rates.