U.S. Consumer Sentiment Falls as Outlook for Economy Weakens

U.S. consumer sentiment fell in April for the first time in three months, missing estimates, as the long-term economic outlook dropped to the lowest in more than a year and enthusiasm over tax cuts waned.

The University of Michigan’s preliminary sentiment index decreased to 96.9 from the prior month’s 98.4, according to a report Friday. The median estimate of economists surveyed by Bloomberg was 98.2. The gauge of current conditions rose to a four-month high of 114.2, while the expectations gauge fell to 85.8.