Michigan Survey Finds Consumers in a Cheerier Mood Ahead of the Holidays – By Tim Smart (US News) / Dec 9, 2022
Consumer sentiment showed a surprise improvement in December.
Consumers turned surprisingly more sanguine about the economy in the latest reading from the University of Michigan released Friday.
The preliminary December consumer sentiment index rose to 59.1 from 56.8 in November, beating estimates of it remaining unchanged to slightly down. Sentiment rose broadly with one-year business conditions rising 14% and longer-term expectations gaining 6%.
“Gains in the sentiment index were seen across multiple demographic groups, with particularly large increases for higher-income families and those with larger stock holdings, supported by recent rises in financial markets,” surveys director Joanne Hsu said.
