US Consumer Sentiment Jumps as Inflation Concerns Dissipate
- University of Michigan sentiment index increases to 69.4
- Year-ahead inflation expectations fall to lowest since 2021
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US consumer sentiment rebounded sharply in early December, topping all forecasts as households dialed back their year-ahead inflation expectations by the most in 22 years.
The University of Michigan’s consumer sentiment index jumped 8.1 points to a four-month high of 69.4, the preliminary December reading showed. The median estimate in a Bloomberg survey of economists called for the gauge to edge up to 62.