VOT Research Desk
The University of Michigan’s (UoM) Consumer Confidence Index increased to 59.1 from 56.8 in November, indicating an improvement in consumer sentiment in the US at the beginning of December.
This figure was higher than the 53.3 market forecast. At 3.0%, long run inflation expectations have stayed within the narrow (albeit elevated) 2.9-3.1% range for 16 of the last 17 months.
Year-ahead inflation expectations improved significantly but remained relatively high, falling from 4.9% to 4.6% in December, the lowest reading in 15 months but still well above 2 years ago.
