The University of Michigan announced the final data for April of the consumer confidence index prepared in line with the trends of American consumers.
Accordingly, the consumer confidence index decreased by 2.2 points to 77.2 in April compared to last month.
While the said data was revised downwards, the preliminary data for this month was announced as 77.9. The consumer confidence index was recorded as 79.4 in March.
The current economic conditions index, which measures Americans' assessment of current financial conditions, also decreased by 3.5 points on a monthly basis to 79 in April.
Joanne Hsu, Director of Consumer Surveys, stated that consumer confidence remained flat.
Noting that the long-term business outlook has reached its highest value since June 2021, Hsu stated that views on personal finance have softened.
Hsu stated that consumers continue to express uncertainty about the future course of the economy in general, depending on the results of the upcoming elections, but there is no evidence that global geopolitical factors are at the forefront of consumers' minds.
Noting that short-term inflation expectations rose from 2.9 percent to 3.2 percent in April, Hsu noted that long-term inflation expectations rose from 2.8 percent to 3 percent.
