Improving personal finances and business conditions lift consumer sentiment.
Consumer sentiment lifted 11% in July compared to the previous month, reaching its highest level since October 2021, a sign of greater optimism as inflation continued to ease and stock market performance strengthened.
The Consumer Sentiment Index rose to 71.6 in the July 2023 survey, up 11.2% from 64.4 in June and 39% above last July’s 51.5. result.
Sentiment is now about halfway between the all-time historic low of 50 from June 2022 and the February 2020 pre-pandemic reading of 101, a reflection of the material improvement in the economic experiences
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