Investing.com - Confidence among U.S. consumers rose more than expected in April, according to a preliminary report released by the University of Michigan on Thursday.
The consumer sentiment index hit 98.0, up from 96.9 in March, the University of Michigan said. Economists expected a reading of 96.5.
The current conditions indicator unexpectedly increased to 115.2 from April’s 113.2.
Consumer expectations also ticked higher, rising to 86.9 from 86.5 in March.
The gauge of inflation expectations for the next 12 months was unchanged from the previous month at 2.5%.
The survey of around 500 consumers is conducted monthly and gauges respondent’s attitudes towards personal finances, inflation, unemployment, government policies and interest rates.