US consumer confidence and inflation expectations deteriorate sharply

PANews, April 11 (Xinhua) -- Consumer confidence in the United States deteriorated sharply in April, and 12-month inflation expectations soared to the highest level since 1981, amid a disturbing escalation in trade tensions, Golden Ten reported. On Friday, the University of Michigan released a consumer confidence index that fell to 50.8 from March's final reading of 57.0, and economists predicted the index would fall to 54.5.Joanne Hsu, director of the Center for Consumer Surveys, said, "The decline was widespread and consistent across all ages, incomes, educations, geographic regions and political affiliations. " ‘Consumers are reporting multiple warning signs that increase the risk of a recession: expectations for business conditions, personal finances, incomes, inflation, and the labour market all continue to deteriorate this month.’