Economics
Consumer Sentiment in U.S. at 12-Year High After Trump Win
- Long-term inflation expectations decline to record low
- Survey chief says sentiment has leveled off, likely to drop
Customers browse in the jewelry department at a store in Miami, Florida, on Dec. 5, 2016.
Photographer: Scott McIntyre/BloombergThis article is for subscribers only.
Consumer confidence jumped to the highest level since 2004, extending a surge in Americans’ optimism for their finances and the U.S. economy following Donald Trump’s election victory.
The University of Michigan said Friday that its final index of sentiment rose to 98.2 from 93.8 in November. The median projection in a Bloomberg survey called for 98, equal to the preliminary reading released earlier this month. Inflation expectations for the next five to 10 years fell to a record low.