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Americans Upbeat About Finances Despite Higher Gas Prices

A measure of consumer expectations rose in May for the first time in three months

Americans are standing tall in the face of the highest gasoline prices since 2014 and despite anticipating they’ll continue to climb. The University of Michigan reported Friday that its measure of consumer expectations managed to improve in May for the first time in three months and is close to the strongest reading since 2004. Survey respondents continued to perceive their finances and business conditions as staying strong, consistent with steady income growth and a robust labor market.

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