Preliminary April U Mich consumer sentiment

  • Prior was 101.4 (it was highest since 2004)
  • Current conditions 115.0 vs 121.2 prior
  • Expectations 86.8 vs 88.8 prior
  • 1-year inflation 2.7% vs 2.8% prior
  • 5-year inflation 2.4% vs 2.5% prior

Poor report across the board but the chart shows some context -- the overall index is still very high.

The drop in inflation is a bit more of a concern. You would expect that to be moving in the other direction.