Tuesday, December 23, 2014

Consumer Sentiment Surges in December

According to the University of Michigan Consumer Sentiment Index, consumer sentiment jumped to 93.6 in December, up 4.8 points from the previous month, the highest reading in nearly 8 years.

The improvement to future expectations index led the increase, jumping 6.5 points to 86.4. The index for present conditions also increased, rising 2.1 points to 104.8.

Inflation expectations were mixed. Respondents expect inflation over the next year to be 2.8%, consistent with the previous month’s survey, and over the next 5 years to be 2.8%, up 20 basis points.

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