The University of Michigan’s preliminary June index rose to 48.9, exceeding the expected 45.2 and marking a rebound from May’s 44.8.
U.S. consumer sentiment improved in June, with the University of Michigan’s preliminary index rising to 48.9 from 44.8 in May. The reading surpassed economists’ forecasts of 45.2, signaling a modest recovery in confidence.
May’s index had hit a six-month low, reflecting persistent inflation concerns and economic uncertainty. The June uptick suggests consumers may be slightly more optimistic about current conditions and future expectations.
Markets are monitoring the data for signs of resilience in consumer spending, a key driver of U.S. economic growth.