The final print of the University of Michigan index of consumer confidence was downwardly revised to 97 in April, as compared with the preliminary estimate of 98. Consensus expectations were for the index to stay the same.
Most of the change was due to the current conditions index, which was downwardly revised to 112.7. The expectations index was greatly unchanged at 87. The one-year and long-term inflation expectations indices were kept unchanged at 2.5 percent and 2.4 percent, respectively. In spite of the downward revision, the April print marks a rebound over March and is in line with robust consumer confidence, noted Barclays in a research report.
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