U.S. consumer sentiment rose to 59.1 in December, according to data from The University of Michigan on Friday.
The numbers: The University of Michigan’s gauge of consumer sentiment rose to a preliminary December reading of 59.1 from a November reading of 56.8.Inflation expectations over the next year fell to 4.6% from 4.9% last month. It is the lowest since September... The numbers: The University of Michigan’s gauge of consumer sentiment rose to a preliminary December reading of 59.1 from a November reading of 56.8.Inflation expectations over the next year fell to 4.6% from 4.9% last month.
Key details: A gauge of consumer’s views of current conditions rose to 60.2 in December from 58.8 in November, while an indicator of expectations for the next six months rose to 58.4 from 55.6 last month.The national average retail price for a gallon of gas is now $3.33, down $1.69 from June, according to White House data.
Still, high inflation has consumers remain in a relatively dour mood. By comparison, the consumer sentiment index was 101 in February of 2020. Market reaction: Stocks DJIA SPX were mixed in volatile trading on Friday on the back of hotter-than-expected wholesale price gains in November. The yield on the 10-year Treasury note TMUBMUSD10Y rose to 3.55%.
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