Richard Curtin. Image courtesy of D.C. Goings
Diane Swanbrow, (734) 647-9069, swanbrow [a] umich (p) edu or Surveys of Consumers, (734) 763-5224 or Thomson Reuters PR Hotline, (646) 223-7222, ext. ANN ARBOR-The overall level of consumer confidence declined in April from March, but was identical to last April's reading, according to University of Michigan economist Richard Curtin, director of the Thomson Reuters/University of Michigan Surveys of Consumers. The Surveys, conducted by the U-M Institute for Social Research (ISR) since 1946, monitor consumer attitudes and expectations. Most of the April loss was in how consumers viewed future economic prospects, according to Curtin. In particular, consumers were less optimistic about the ability of the economy to continue to expand without a renewed downturn sometime in the next five years. The strengths in consumer spending are now attributable to gains in household wealth, including rising home values and stock prices as well as reduced debts. Indeed, favorable attitudes toward vehicle and home buying conditions continued to point toward improved sales of homes and vehicles during the year ahead.
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