Consumer Sentiment: Declines Modestly

Bottom Line: Consumer sentiment declined modestly in early April and was at its lowest level since November 2014. Overall the uptrend in sentiment has stalled as there has been a modest deterioration over the past 5 months. Consumer Sentiment FELL by 1.3 points in early April to 89.7%, compared with market expectations for an increase to 92.0%. With this month's decline, sentiment is now 6.5% BELOW its year ago level. Sentiment had been rising since August 2011 amid substantial volatility until November but is now declining modestly. Current Conditions FELL by 0.2 points to 105.4%. This is also 1.5% BELOW their year ago level. Current conditions had been climbing erratically for the past 4 years. Consumer Expectations FELL by 1.9 points to 79.6%. Expectations had been climbing slowly amid substantial volatility until November. With this month's decline, expectations are now 10.4% BELOW its year ago level.