Record job prospects outweigh inflation concerns.
April surveys recorded continued gains in consumer confidence due to a growing sense that the upward momentum in jobs and incomes is likely to persist, according to the University of Michigan Surveys of Consumers.
The Consumer Sentiment Index rose to 88.3 in the April 2021 survey, up from 84.9 in March and well above last April’s 71.8—the best reading since the start of the pandemic. The Expectations component rose to 82.7 in April, up from last month’s 79.7 and last year’s 70.1. The Current Conditions Index rose to 97.2, up from last month’s 93.0