The gauge of future expectations increased slightly to 87 from a preliminary of 86.9 and from 86.5 in the previous month.Meanwhile, the barometer for current economic conditions fell to 112.7 from a preliminary of 115.2 and a final of 113.2 in March.
Americans expect the inflation rate to be 2.5 percent next year, the same as earlier reported and as in March. Over the next 5 years, inflation is expected to be 2.4 percent, unchanged from both the preliminary estimate and from March's expectation.
"Consumer sentiment continued to travel along the high plateau established following Trump's election, with only minor deviations from its five month average of 97.4. There was widespread agreement among consumers on their very positive assessments of the current state of the economy as well as widespread disagreement on future economic prospects. Although the partisan divide has slightly narrowed in recent months, it still reflects a very pessimistic economic outlook among Democrats and a very optimistic outlook among Republicans. The partisan divide on the Expectations Index was 51.0 points in April (61.4 vs. 112.4), down from last month's 63.1 (59.4 vs. 122.5), with Republicans moderating their optimism more than Democrats reduced their pessimism.", Surveys of Consumers chief economist, Richard Curtin noted.