Consumer Outlook Improves Slightly
Consumer sentiment improved modestly this month as inflation worries eased, but the outlook remains muted, according to the University of Michigan’s latest survey.
WASHINGTON — U.S. consumers’ mood improved slightly this month, with worries about inflation easing a bit, but remains gloomy.
The University of Michigan’s consumer sentiment index, released Friday in a preliminary version, rose to 53.3 early this month from a final reading of 51 in November. The index beat the 52 mark that economists had forecast but is down considerably from 71.7 in January.
Consumers’ evaluation of current economic conditions slipped slightly, but their expectations for the future brightened somewhat.
Joanne Hsu, who directs the Michigan economic surveys, said: “The overall tenor of views is broadly somber, as consumers continue to cite the burden of high prices.″
Inflation has fallen from the highs reached in mid-2022 but remains stubbornly above the Federal Reserve’s 2% target.
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