America’s two most respected consumer confidence indices just improved. The University of Michigan’s final April household sentiment gauge rose a full point from its initial reading to 98.8 last week, and the Conference Board’s index came in at a great 128.7 for April – 1.7 points higher than its March mark.
According to a report from the Department of Commerce, retail sales jumped 0.6% last month. That was the biggest monthly gain recorded since November (and the first monthly advance of 2018). Sales of cars and trucks were up 2.0%, making March the best month for that category since September.1
Stocks rallied in January, corrected in February, and slumped in March as volatility and economic policy changes took some of the enthusiasm out of the market. The Trump administration announced tariffs on foreign steel, aluminum, and assorted products from China; China soon said that it would reciprocate with excise taxes of its own.
When any plan is followed through, there are lessons to be learned, refinements to be made. That certainly holds true for retirement plans. The initial year of retirement may prompt you to revise your monthly budget, your investment approach, and your lifestyle expectations.
In its initial April edition, the University of Michigan’s survey of household sentiment saw its index decline to 97.8 from its final March reading of 101.4. The survey’s chief economist, Richard Curtin, believed that “uncertainty surrounding the evolving [U.S.] trade policy” affected the reading.
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