US consumer sentiment picks up less than expected in April

Consumer sentiment in the US picked up less than expected in April, according to figures from the University of Michigan.

The index of consumer sentiment rose to 97.0 from 96.9 the month before and 89.0 in April 2016. Economists had been expecting a reading of 98.0.

The current economic conditions index printed at 112.7 from 113.2 in March and 106.7 in April last year.

Meanwhile, the index of consumer expectations nudged up to 87.0 from 86.5 the month before and 77.6 in April 2016.

Surveys of Consumers chief economist, Richard Curtin, said: “Consumer sentiment continued to travel along the high plateau established following Trump's election, with only minor deviations from its five-month average of 97.4.

“There was widespread agreement among consumers on their very positive assessments of the current state of the economy as well as widespread disagreement on future economic prospects. Although the partisan divide has slightly narrowed in recent months, it still reflects a very pessimistic economic outlook among Democrats and a very optimistic outlook among Republicans.”