(University of Michigan) The gauge of US consumer sentiment rose 9.8% from March to hit 65.2 in April, reflecting improved expectations on prices, especially gas costs.
Following the April gains, the consumer sentiment index improved to a level that is 26.2% below the previous year.
The index gauging the consumer expectations rose the most in April, with a gain of 15.1% from March to 62.5. The index was still 24.4% below the previous year.
The index gauging the current economic conditions improved by 3.3% from March to 69.4 in April. The index was 28.6% below the prior year.
Surveys of Consumers chief economist Richard Curtin said that a fall in gas prices of 0.4 cents boosted expectations, although the impact on the sentiment trend still remains small.
Curtin maintained that consumers remained less upbeat on monetary policy and fiscal actions. He says the chances of consumers reaching a tipping point will depend on the labor market prospects and wage gains.
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