Consumers in the early part of June grew considerably less pessimistic about the economy and potential surges in inflation as progress appeared possible in the global trade war, according to a University of Michigan survey Friday.
The university’s closely watched Surveys of Consumers showed across-the-board rebounds from previously dour readings, while respondents also sharply cut back their outlook for near-term inflation.
For the headline index of consumer sentiment, the gauge was at 60.5, well ahead of the Dow Jones estimate for 54 and a 15.9% increase from a month ago. The current conditions index jumped 8.1%, while the future expectations measure soared 21.9%.
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