Consumer sentiment in the U.S. has unexpectedly improved in the month of April, according to a report released by the University of Michigan on Thursday.
The report said the consumer sentiment index rose to 98.0 in April from 96.9 in March. Economists had expected the index to edge down to 96.6.
"Consumer sentiment inched upward in early April mainly due to more favorable views of current economic conditions," said Richard Curtin, the survey's chief economist.
The current economic conditions index reached its highest level since 2000, climbing to 115.2 in April from 113.2 in March.
The index of consumer expectations showed a more modest increase, inching up to 86.9 in April from 86.5 in the previous month.
On the inflation front, one-year and five-year inflation expectations in April were both unchanged from the previous month at 2.5 percent and 2.4 percent, respectively.
by RTT Staff Writer
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