The final reading for the April Reuters/Michigan index of consumer sentiment came in at 71.8 compared to a preliminary reading of 71.0 and the March final reading of 89.1. That was the lowest reading since December 2011.
Economists had forecast the index to be revised down to 68.0.
According to the report, the index of the current economic conditions tumbled 28.4 percent m-o-m to 74.3 from March's final reading of 103.7.
Meanwhile, the index of consumer expectations plunged 12.0 percent m-o-m to 70.1 from March's final reading of 79.7.
Richard Curtin, the Surveys of Consumers chief economist, noted: "In the weeks ahead, as several states reopen their economies, more information will reach consumers about how reopening could cause a resurgence in coronavirus infections. Consumers' reactions to relaxing restrictions will be critical, either putting further pressure on states to reopen their economies, or exerting added pressure to extend the restrictions even if it has negative consequences for economic prospects."
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.