Consumer Sentiment Dips in April

By Stevie Duffin Updated on 9/25/2013

According to a report released by University of Michigan today, the consumer sentiment dropped slightly for April.  The index slipped to 75.7 from 76.2 in March. The March number was actually a 13-month high and one of the highest readings of the index since the start of the recession.  This dip was below what the analysts had projected which was a stable reading at 76.2.

Experts say that this drop in consumer sentiment, coupled with an increase in unemployment claims, are a recipe for a disappointing month of April. The stock market also moved down becuase of the consumer sentiment number.

What seems to have contributed to the drop in sentiment is rising gas prices and the recent dip in the stock market. Even though in the real estate market, some newly launched government programs such as the HARP 2.0 Refinance Program are attempting to kick-start the segment, the overall economy and consumer sentiment is still shaky.

On the bright side however, despite the current drop to a four-month low, future expectations has actually risen to the highest point in two-and-a-half years so hopefully we have some better times ahead.