Instant View: Consumer sentiment falls in April

Fri Apr 13, 2012 10:21am EDT

(Reuters) – Consumer sentiment slipped modestly in early April as higher gasoline prices hit household budgets, but optimism over the economic outlook lifted consumers’ expectations, a survey released on Friday showed.

KEY POINTS: * The Thomson Reuters/University of Michigan’s preliminary reading on the overall index on consumer sentiment dipped to 75.7 in April from 76.2 in March. Economists had expected the index to hold at last month’s level. * The survey’s barometer of current economic conditions tumbled to the lowest level since December at 80.6 from 86.0. But the measure of consumer expectations rose to 72.5 from 69.8, hitting its highest level since September 2009. COMMENTS: SAM WARDWELL, INVESTMENT STRATEGIST, PIONEER INVESTMENTS, BOSTON “Everyone has been talking about gasoline prices and that has permeated the public consciousness and prices might go up further. We think there continues to be strength in the jobs market. The recent jobs data are not really bothering us. We should see more people working at higher hourly wages. After talking to our retail

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Read the full article: http://www.reuters.com/article/2012/04/13/us-usa-economy-instantmichigan-idUSBRE83C0WD20120413 (only 1/3 of the full article is shown)

 

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