Consumer sentiment increased by 16% this month, reaching a preliminary reading of 60.5 according to the University of Michigan’s survey. This marks the first improvement since December, attributed to easing trade tensions. Consumers remain cautious about economic risks despite the uptick. The sentiment is still about 20% below December levels, and any resurgence in trade tensions could affect consumer confidence. While sentiment has weakened, it hasn’t been a reliable predictor of future spending. In April, consumer spending rose by 0.2%, down from March’s 0.7% increase. The labor market remains a key factor influencing spending habits. \n— new from CNN
