U.S. Consumer Confidence Index Hits 3-Month High on Improving Outlook – Bloomberg

US consumer sentiment soared to a three-month high in early August. Against the backdrop of improving economic and household prospects. Inflation expectations were mixed, with inflation expectations for the next 5-10 years rising slightly to 3% (2.9% last month), while inflation expectations one year ahead were at 5% (5.2% last month), the lowest level since February. went down to

Key Point
  • Preliminary Michigan Consumer Confidence Index rises to 55.1
    • Last month’s confirmed value was 51.5
    • Median expected value is 52.5

University of Michigan Consumer Confidence Index

The US consumer price index for July announced on the 10th (CPI) increased by 8.5% year-on-year, decelerating from the 9.1% increase in June, which was the highest growth in about 40 years. Food and housing costs have continued to rise, reflecting falling energy prices, and the US Fed is expected to continue raising interest rates to curb inflation.

The rise in consumer sentiment in early August was due to an improving outlook. The expectation index rose to 54.9 from 47.3 in the previous month, the highest level in three months. Meanwhile, the current situation index fell from 58.1 to 55.5.

“Despite a strong labor market and some signs of improvement in inflation, consumer sentiment remains very low by historical standards,” said Joan Shu, director of consumer research at the University of Michigan, in a statement. there is,” he pointed out.

An index of consumers’ one-year economic outlook improved to a four-month high. An index of household financial outlook hit a three-month high.

See table for detailed statistics.

Original title:US Consumer Sentiment Rises to Three-Month High on Outlook(excerpt)

(Add and update from the fourth paragraph.)

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