Shoppers at Third Street Promenade outdoor shopping mall on August 17, 2012 in Santa Monica, California. (Photo: Reuters)
The Survey of Consumers, a closely watched gauge of U.S. consumer sentiment continued to decline in April, the latest indicator the U.S. economy is slowing down. The University of Michigan’s final consumer-sentiment index for April, which was released on Friday, fell to 89.0, down from March’s final reading of 91.0.
It was the fourth consecutive month that the headline sentiment index declined. Still, the Surveys of Consumers chief economist, Richard Curtin, cautioned against overreacting to the survey.
“Consumer sentiment continued its slow decline in late April due to weakening expectations for future growth, although their views of current economic conditions remained positive,” said Mr. Curtain. “The size of the decline, while troublesome, is still far short of indicating an impending recession.”
A preliminary April reading of 89.7 was announced in mid-April. Economists surveyed by The Wall Street Journal had expected a final April reading of 90.0.
Consumer Sentiment Final Results for April 2016
| Apr | Mar | Apr | M-M | Y-Y | |
| 2016 | 2016 | 2015 | Change | Change | |
| Index of Consumer Sentiment | 89.0 | 91.0 | 95.9 | -2.2% | -7.2% |
| Current Economic Conditions | 106.7 | 105.6 | 107.0 | +1.0% | -0.3% |
| Index of Consumer Expectations | 77.6 | 81.5 | 88.8 | -4.8% | -12.6% |
