Consumer Sentiment Falls Back Sharply

The consumer sentiment index fell back sharply in the mid-month flash, down 1.3 points to an 89.7 level that was more than 2 points below expectations. Weakness was centered in the expectations component which points to emerging doubts over future job and income prospects. Inflation expectations are another key reading in this report with the 5-year outlook, in another negative reading, down 2 tenths to 2.5 percent. A small bounce back to 90.4 for the final April report.