University of Michigan index climbs on improved outlook on inflation and incomes amid split views on business outlook.
Consumer sentiment soared 13% in January to reach its highest level since July 2021, continuing the sharp increase seen in December, primarily on the basis of an improving outlook over inflation and personal incomes, according to the University of Michigan Surveys of Consumers.
The Consumer Sentiment Index rose to 79.0 in the January 2024 survey, up from 69.7 in December and above last January’s 64.9.
Over the last two months, sentiment has climbed a cumulative 29%, the largest two-month increase since
Subscribers need to be logged in to see rest of this article. Please Login to access. If you're not a subscriber, click here for information on our satisfaction guaranteed subscription options.