Michigan Consumer Sentiment Continues Rebound

The Thompson Reuters / University of Michigan Consumer Sentiment Index final report for April came in at 69.8, little changed from the April preliminary 69.6. The Briefing.com consensus expectation had been for 69.6 and Briefing.com’s own forecast was for 70.0. The latest number represents a 75% retracement over the last two months of the sharp decline in February.

Conference Board: Consumer Confidence in Modest Recovery

The Latest Conference Board Consumer Confidence Index was released this morning based on data collected through April 14. The 65.4 reading is a point above the consensus estimate of 64.4, reported by Briefing.com and a modest improvement over the March slight upward revision to 63.8 (from 63.4). Consumer Confidence has lagged in this recovery, just as it did in the recoveries from the 1991-92 and 2001 recessions. All three recoveries have been characterized as “jobless.” Not surprisingly, consumer confidence is apparently a proxy for poor employment levels.