University of Michigan released it consumer sentiment index which ended lower creating worries on US economic recovery. According to the preliminary reading by University of Michigan, the consumer sentiment for the month of April fell to 75.7 as compared to 76.2 in March. Analysts on average were expecting the figure of 76.4 for the respective month. According to University of Michigan’s report the consumer sentiment index for current conditions declined to 80.6 in April as compared to 86 in March while the expectations on index gained to 72.5 as compared to 69.8.

Increased gasoline cost is also putting pressure on consumer which has increased $0.70 per gallon since last year.

The consumer sentiment index measures the personal finances, business and buying conditions of consumers and stood around 87 in last year.

On the other hand closely related indicator inflation was also released as the consumer price index for the month of March gained 0.3 percent. Consumers’ expected expectations on CPI declined to 3.4 percent from earlier forecasts of 3.9 percent.