Make Kitco Your Homepage

U.S. consumer sentiment rebounds in early June - survey

Kitco News

WASHINGTON (Reuters) - U.S. consumer sentiment rebounded in early June as inflation fears subsided and households grew more optimistic about future economic growth and employment, a survey showed on Friday.

The University of Michigan said its preliminary consumer sentiment index increased to 86.4 in the first half of this month from a final reading of 82.9 in May. Economists polled by Reuters had forecast the index rising to 84.

The survey’s gauge of current economic conditions edged up to a reading of 90.6 from 89.4 in May. Its measure of consumer expectations rose to 83.8 from 78.8. The survey’s one-year inflation expectations fell to 4.0 from 4.6%, while its five-to-10-year inflation outlook dropped to 2.8% from 3.0% in May.

Reporting By Lucia Mutikani; Editing by Chizu Nomiyama

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.