U.S. consumers are bullish on the economy, according to the latest findings from the Reuters/University of Michigan Surveys of Consumers. Consumer sentiment came in far above expectations for its highest reading since January.
The surveys, designed to be a gauge of consumer anticipation of changes in the economic environment, produced a Consumer Sentiment Index — the surveys’ key figure — of 92.4 for July, according to Reuters. The number far outpaced the median forecast from analysts of 86.0. Although the jump in the index was impressive, it was coming off a 10-month low in June, said Reuters.
The Reuters news agency has exclusive distribution rights for the surveys’ results conducted and compiled by the University of Michigan.
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