Finance

US Consumer Sentiment Rises Solidly in January

U.S. client sentiment improved in January to the very best stage for the reason that summer season of 2021 amid optimism over the outlook for inflation and family incomes, a survey confirmed Friday.

The University of Michigan’s preliminary studying on the general index of client sentiment got here in at 78.8 this month, the very best studying since July 2021, in comparison with 69.7 in December. Economists polled by Reuters had forecast a preliminary studying of 70.0.

“Consumer views were supported by confidence that inflation has turned a corner and strengthening income expectations,” mentioned Surveys of Consumers Director Joanne Hsu in an announcement.

The survey’s studying of one-year inflation expectations fell to 2.9% this month from 3.1% in December. Its five-year inflation outlook slipped to 2.8% from 2.9% in the prior month.


© 2024 Thomson/Reuters. All rights reserved.

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