skews13
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- Mar 18, 2017
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Buoyed by falling gas prices and a strong labor market, consumer sentiment jumped "unexpectedly" in early April to hit a three-month high, according to the University of Michigan's sentiment index.
Due to continued inflation, economists had expected the sentiment index to continue its downward trend to 59 after a final reading of 59.4 in March. Instead the index rose to 65.7 in early April, a reversal that marked the measure's first improvement since December.
The 10.6% bump in sentiment was primarily fueled by improved consumer expectations.
"A strong labor market bolstered wage expectations among consumers under age 45 to 5.3%—the largest expected gain in more than three decades, since April 1990," wrote Richard Curtin, chief economist for the Surveys of Consumers.
Good news going good not summer.
Due to continued inflation, economists had expected the sentiment index to continue its downward trend to 59 after a final reading of 59.4 in March. Instead the index rose to 65.7 in early April, a reversal that marked the measure's first improvement since December.
The 10.6% bump in sentiment was primarily fueled by improved consumer expectations.
"A strong labor market bolstered wage expectations among consumers under age 45 to 5.3%—the largest expected gain in more than three decades, since April 1990," wrote Richard Curtin, chief economist for the Surveys of Consumers.
Falling gas prices, rising wages fuel unexpected jump in U.S. consumer sentiment
Buoyed by falling gas prices and a strong labor market, consumer sentiment jumped "unexpectedly" in early April to hit a three-month high, according to the University of Michigan's sentiment index. Due to continued inflation, economists had expected...
m.dailykos.com
Good news going good not summer.