Consumers Exuberant in U.S., and They May Not Be Irrational
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Low prices and borrowing costs are making American consumers more ebullient.
The University of Michigan’s final index of sentiment increased to 96.1 in June, exceeding all estimates in a Bloomberg survey of economists, from a 90.7 May reading. The gain capped the most optimistic first half of any year for households since 2004.