April 11 news, according to Kim Ten reports, U.S. consumer confidence deteriorated sharply in April, with 12-month inflation expectations surging to the highest level since 1981, as trade tensions escalated uncomfortably. On Friday, the University of Michigan released a consumer confidence index that fell to 50.8 from its March final value of 57.0, with economists predicting it will fall to 54.5. "The decline was widespread and consistent across ages, incomes, education, geographic regions and political affiliations," said Joanne Hsu, director of the Center for Consumer Surveys. "Consumers reported multiple warning signs, increasing the risk of a recession: Expectations for business conditions, personal finances, incomes, inflation and the labor market all continued to deteriorate this month."