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Consumer sentiment hits 97.7 in May vs. 97 estimate
Economists were expecting the index to see a preliminary reading of 97 for the month of May, according to Thomson Reuters consensus estimates. The University of Michigan's Consumer Sentiment Index finished April with a reading of 97, up from 89 for the same month a year ago. Earlier on Friday, the Commerce Department announced retail sales increased 0.4 percent in April from March. Prior to this, sales had ticked up just 0.1 percent in March and fell in February. The increase suggests consumers may spur faster growth in the quarter of April through June, after the economy just barely expanded in the first three ... (full story)