Index near midpoint between pre-pandemic levels and historic lows last year.
Consumer sentiment soared 14% in December, reversing four consecutive months of declines and reaching its highest reading since July, according to the University of Michigan Surveys of Consumers.
These trends are rooted in sharp improvements in how consumers view the trajectory of inflation, said U-M economist Joanne Hsu, director of the Surveys of Consumers.
Consumer sentiment is viewed as a leading indicator of economic activity and sharp declines have often preceded or happened during the early point of recessions. Declining sentiment levels can also impact consumer’s willingness to make
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