US Consumer Confidence Rebounds from 16-Month Low
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The confidence of American consumers during April climbed from a 16-month low in March as a slowly recovering job market and tax savings are improving the sentiment of U.S. shoppers.
The Thomson Reuters/University of Michigan preliminary index of consumer sentiment rose to 69.6 this month, up from a reading of 67.5 in March, the lowest since November 2009.
Economists had expected the gauge to rise to a more modest level of 68.8 for April.
Other economic reports on Friday showed a ninth consecutive rise for consumer prices, while manufacturing remained strong.
The Thomson Reuters/University of Michigan preliminary index of consumer sentiment rose to 69.6 this month, up from a reading of 67.5 in March, the lowest since November 2009.
Economists had expected the gauge to rise to a more modest level of 68.8 for April.
Other economic reports on Friday showed a ninth consecutive rise for consumer prices, while manufacturing remained strong.
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