US consumer confidence improved more than expected in April, according to preliminary results from the University of Michigan’s monthly survey released on Friday.
The confidence index calculated on the basis of this survey of households in the United States rose to 63.5 this month, after 62 in March, while analysts were expecting it around 62.7.
Joanne Hsu, the author of the report, attributes this recovery to the rise in the morale of low-income households, which more than offset the decline in that of the wealthiest households.
The component of consumers’ judgment of their current situation stood at 68.6, compared to 66.3 in March, while the sub-index measuring their expectations also improved, to 60.3 from 59.2. last month.
The results of the survey also show a deterioration in their inflation expectations over a one-year horizon, envisaged at 4.6% against 3.6% the previous month, as consumers expect inflationary pressures persist for some time yet.
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