The Confidence Board released Consumer Confidence data this morning which handily beat consensus estimates. The numbers came in at 129.2 vs 126.8 expected for the month of April.
Both estimates of current conditions and economic outlooks improved: the Present Situation Index – based on consumers’ assessment of current business and labor market conditions – increased, from 163.0 to 168.3. The Expectations Index – based on consumers’ short-term outlook for income, business and labor market conditions – increased from 98.3 last month to 103.0 this month, wrote Zero Hedge.
The Chicago Purchasing Manager’s Index (PMI) fell sharply to 52.6 from the estimate of 59, showing a possible slowdown although the number can be volatile and there was a very large upside print in February.
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