U.S. Consumer Sentiment Unexpectedly Rises to Three-Month High
- Michigan gauge jumps to 65.7, exceeding all estimates
- Strong labor market, wage expectations bolster outlook
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U.S. consumer sentiment unexpectedly rose to a three-month high in early April as optimism about job growth and wage expectations more than outweighed decades-high inflation.
The University of Michigan’s sentiment index increased to 65.7 from 59.4 in March, data released Thursday showed. The figure exceeded all estimates in a Bloomberg survey of economists, which had a median forecast of 59.