The final look at April UoM confidence at 76.4 was a bit better than expectations of 75.7 and the preliminary reading of 75.7 and is up from 76.2 in March. It’s the best since Feb ’11 but the components were mixed as while Current Conditions rose 2.3 pts, the Outlook fell by a slight .2 pt. Thanks to a continued decline in gasoline prices, one year inflation expectations fell to 3.2% from the preliminary print of 3.4% and down from 3.9% in March. It’s the lowest since Dec even though gasoline prices are .60+ higher than they were in Dec. Maybe the $1+ decline in natural gas prices since Dec is the offset. Bottom line, while the best in more than a year, confidence is a coincident indicator and thus tells us little about how consumers will react in terms of spending in the months to come.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.