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.