University of Michigan
Consumer sentiment up in AprilPosted by RJ and Makay on Apr 18, 2011 |
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U.S. consumer sentiment rose in April as worries about the impact of higher oil prices on economic growth eased slightly, according to Reuters.
The consumer sentiment index calculated by Reuters and the University of Michigan has spiked 3% so far this month to 69.6 from 67.5 in March. Although the latest reading beat the consensus forecast of 68.5 among economists polled by Reuters, it's still below February's result (but not March's), Reuters reports.
The U.S. Consumer Confidence Index (CCI), a commonly used gauge of consumer sentiment about the economy, rose in the first couple weeks of February to its highest level since last June. The CCI now stands at 75.1, up almost a full point from 74.2 at the end of January and more than 22 points from June 2010's level of 52.9.
