Consumer views on the finances and the future remain near the cyclical peak.
Consumer sentiment remained at very positive levels, with the January reading of 99.8 insignificantly below the cyclical peak of 101.4, according to the University of Michigan Surveys of Consumers. Consumer sentiment about the future is cited as one of the key factors buoying new vehicles sales, an important driver of future collision repair industry volume.
The Consumer Sentiment Index rose to 99.8 in January 2020, just ahead of last month’s 99.3 and significantly above last January’s 91.2. The Expectations Index rose to 90.5 in January, up from
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