After hitting a pandemic high in April, and falling precipitously in May, the University of Michigan’s index of consumer sentiment rebounded in June.
The numbers: After hitting a pandemic high in April, and falling precipitously in May the University of Michigan’s index of consumer sentiment rebounded in June.
The University of Michigan’s gauge of consumer sentiment rose to a preliminary June reading of 86.4 from a final May reading of 82.9.What happened: A sub-index that measures how consumers feel about the economy right now rebounded somewhat, likely due to rapid job gains in recent month.
Big picture: Americans are feeling the benefits of a relatively strong recover as more than 1 million jobs in the past three months, but they are still concerned about the prospect of runaway inflation. Market reaction: The Dow Jones Industrial Average DJIA, -0.15% edged down into negative territory after the report.
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