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- U.S. consumer sentiment index rises more than expected in early December
U.S. consumer sentiment index rises more than expected in early December
A report from
the University of Michigan revealed on Friday the preliminary reading for the
Reuters/Michigan index of consumer sentiment surged to 99.2 in early December. That
was the highest reading since May.
Economists had
expected the index would increase to 97.0 this month from November’s final
reading of 96.8.
According to
the report, the index of current U.S. economic conditions increased to 115.2 in
December from 111.6 in the previous month. Meanwhile, the index of consumer
expectations grew to 88.9 this month from 87.3 in November.
Nearly all of
the early December gain was among upper-income households, who also reported
near-record gains in household wealth, largely due to increased stock prices,
the report noted.
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