Consumer sentiment improved this month helped by falling gasoline prices, retail discounts and lower inflation.
The University of Michigan Surveys of Consumers said its index of confidence for December rose to 59.1 from November’s 55.3, aided by the fall in one-year inflation expectations to their lowest in five years, the highest since September and contrary to economists’ expectations of a fall to 54.8, according to the median of forecasts in a Reuters poll.
Despite the improvement, sentiment remains depressed by historical standards. The University of Michigan confidence index dates back to 1952.
Popularity: 2% [?]
