US Consumer Sentiment Jumps to Near Two-Year High on Job Market
- University of Michigan index climbed to 72.6 in early July
- Short-term inflation expectations edged up to 3.4% from 3.3%
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US consumer sentiment soared in early July to an almost two-year high, bolstered by easing inflation and a strong labor market.
The University of Michigan preliminary index rose by 8.2 points to 72.6, the highest since September 2021. The reading topped all forecasts in a Bloomberg survey of economists, and the monthly advance was the largest since 2006.