U.S. consumer sentiment fell in April, the third consecutive monthly, decline, data released Friday by the University of Michigan showed.

The consumer sentiment index declined to 71.8 in April from 89.1 in March. That was above the 67 level forecast by economists.

The seven-day moving average of the index showed a surge in early April that later reversed. This may have reflected hopes that the economy could start to be re-opened around Easter.

The decline in sentiment cuts across income levels. Households below the median income have the same level of confidence as those above, according to Richard Curtin, the survey’s chief economist.

The coronavirus has weighed heavily on consumer assessments of the current situation, which declined by 40.5 points over the past two months in the University of Michigan survey. The expectations component of the index is down just 22 points over that period, indicating that consumers remain hopeful that the economy will improve in coming months.

“In the weeks ahead, as several states reopen their economies, more information will reach consumers about how reopening could cause a resurgence in coronavirus infections. Consumers’ reactions to relaxing restrictions will be critical, either putting further pressure on states to reopen their economies, or exerting added pressure to extend the restrictions even if it has negative consequences for economic prospects,” Curtin said.

Curtin warned that a resurgence that caused authorities to reimpose restrictions would have “serious repercussions.”

“The necessity to reimpose restrictions could cause a deeper and more lasting pessimism across all consumers, even those in states that did not relax their restrictions,” Curtin said.