Buoyed by favorable views of the economy, consumer sentiment edged up to 98 in April, according to the University of Michigan.
CNBC reported that analysts polled by Reuters had expected the index to drop to 96.5 for the April preliminary report from last month’s preliminary figure of 97.6. The monthly survey of 500 consumers measures attitudes toward topics, such as personal finances, inflation, unemployment, government policies and interest rates.
Richard Curtin, director of the university’s Surveys of Consumers, said in the report that rising consumer confidence is a result of the Current Economic Conditions Index being near all-time highs. The index is currently at its highest since 2000.