Consumer Confidence Gain Reported: The University of Michigan’s consumer sentiment index rose in April to 92.6 from the 91.5 reading in March, according to professional money managers who have seen the data. The managers spoke on condition of anonymity because the survey is made available only to paying subscribers. The index is a composite of how consumers feel about current and future economic conditions. It is considered by some economists to be a useful tool for gauging consumer willingness to borrow and spend. The university’s reading on current conditions for April rose to 108.1 from 101.4 in March, the sources said. The index for consumer expectations about the future was said to have fallen to 82.6 from 85.1.
From Times Staff and Wire Reports