CONSUMER CONFIDENCE RISES MORE THAN EXPECTED

<img src="http://static3.businessinsider.com/image/5347f8e569bedd105b454210-800-/screen-shot-2014-04-11-at-10.13.52-am.png" border="0" alt="UMich confidence" width="600" />

Preliminary results of the University of Michigan's April consumer confidence survey are out.

The report's headline index advanced to 82.6 from March's 80.0 reading. Economists predicted a smaller gain to 81.0.

The economic conditions sub-index rose to 97.1 from 95.7, and the economic outlook sub-index advanced to 73.3 from 70.0.

Inflation expectations one year ahead edged down to 3.1% from 3.2%, while expectations for inflation five years ahead rose to 3.0% from 2.9%.

<span>"Before we get too excit</span><span>ed, though, note that the index has been at this level or better </span><span>several times in recent years, only for it then to fall back," says Ian Shepherdson, chief economist at Pantheon Macroeconomics.</span>

<span>"We think the odds this time favor sustained strength, in the </span><span>absence of fiscal/political chaos and with stable energy prices, </span><span>though sentiment is vulnerable still to any correction in the </span><span>stock market."</span>

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