US consumer sentiment little changed in April - Uni Michigan

US consumer sentiment was little changed in April, according to a survey released on Friday by the University of Michigan.

The Michigan consumer sentiment index ticked up to 63.5 from 62.0 in March. This was in line with the preliminary reading and down from 65.2 in April 2022.

The current economic conditions index printed at 68.2 this month, versus 66.3 in March and 69.4 in April last year.

The index of consumer expectations nudged up to 60.5 in April from 59.2 a month earlier, but was down from April’s 2022’s reading of 62.5.

Surveys of consumers director Joanne Hsu: "Consumer sentiment was little changed this month, inching up less than two index points from March. Buying conditions for durables improved 11% primarily on the basis of easing perceptions of unaffordability.

"Despite the increasingly negative news on business conditions heard by consumers, their short and long-run economic outlook improved modestly from last month. These improvements were balanced by worsening assessments of personal finances due to higher expenses, reflecting the ongoing pain stemming from continued high prices."