Consumer Sentiment Up for Second Month in a Row

University of Michigan reports growing borrowing costs offset easing inflation as consumer concerns.

Consumer sentiment lifted for the second straight month in January, rising 9% above December but remaining about 3% below a year ago, according to the University of Michigan Surveys of Consumers.

The Consumer Sentiment Index rose to 64.9 in the January 2023 survey, up from 59.7 in December and below last January’s 67.2. The Current Index rose to 68.4, up from 59.4 in December and below last January’s 72. The Expectations Index rose to 62.7, up from 59.9 in December and below last January’s 64.1.

Consumer sentiment