Economy

Economic Data Roundup (04/13/2017)

4/13/17 12:00 PM

iStock-493862590.jpgThe consumer sentiment index from the University of Michigan rose to 98.0 in the first half of April, much better than expected and fractionally below the cycle high hit in January. Under the hood, surveyed Americans’ outlooks on both current and future economic conditions improved this month, with the former surging to the highest reading since November 2000. Thanks to recent economic data remaining generally positive, partisanship appears to have had little impact on the current conditions index. However, the forward-looking expectations index continues to reflect surveyed Democrats’ belief that a deep recession is imminent, and Republicans’ anticipation for a new era of robust economic growth. Richard Curtin, director of the consumer survey, added that “It can be anticipated that optimism will commingle with uncertainty, causing uneven spending patterns across months. Moreover, differential price trends for assets, products, and imports will cause uneven trends in incomes, wealth, and spending across products as well as economic subgroups.”

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Sources: Econoday, Bloomberg, ZH, University of Michigan, FRBSL

Post author: Charles Couch