US Economy: US consumer sentiment is improving significantly

US consumer sentiment is improving significantly

Consumers in the US are more optimistic about the future. Inflation expectations are falling, and the barometer rises significantly in December.

Published today at 4:26 pm

Inflation in the US eased to 3.2% in October.

Image: Angus Mordant/Bloomberg

Consumer sentiment in the USA improved significantly before the start of the year. The barometer rose to 69.4 points in December from 61.3 points the previous month, the University of Michigan reported in its monthly survey on Friday. Economists polled by Reuters had expected only a slight increase to 62.0 points. Consumers assess their situation and prospects better than ever before.

Recently, inflation, which has been eating away at Americans’ purchasing power, has been on the decline. Inflation fell to 3.2% in October and is expected to fall to 3.1% in November data due on Tuesday, if an expert poll by Reuters is correct.

Consumers’ inflation expectations have also now eased: looking ahead to the next twelve months, they expect the inflation rate for goods and services to be 3.1%. In November, consumers estimated 4.5%. The US Federal Reserve has countered high inflation with a series of interest rate hikes. Most recently, he was suspended twice in a row. Federal Reserve Chairman Jerome Powell has signaled that the central bank can afford to remain calm given the progress it has made in fighting inflation. The next interest rate decision is on December 13.

Reuters

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