Household sentiment was little changed in April from the previous month, holding at an elevated level on optimism about personal finances, University of Michigan survey data showed.
Final April index of sentiment stood at 97 (forecast was 98), after 96.9 in March, and down from a preliminary reading of 98 Current conditions gauge, which measures Americans’ perceptions of their personal finances, eased to 112.7 from 113.2 the prior month. The preliminary April reading was 115.2 Expectations measure crept up to a three-month high of 87 from a March reading of 86.5; April preliminary index was 86.9
An improved financial situation was reported by 50 percent of all respondents in both the March and April surveys, the most in at least 15 years. Americans continue to feel optimistic about a solid job market, with expectations of falling unemployment the most favorable since 1984, and the prospects of growth-boosting legislation.