Americans are generally pessimistic about the economy, despite a rise in consumer sentiment
The numbers: A survey of consumer sentiment rose to 59.7 in December, buoyed by falling gas prices and a rebound in stocks earlier in the month. Yet Americans are generally pessimistic about the economy.
The final reading in the sentiment poll marked a small increase from the initial 59.1 result earlier in the month, the University of Michigan reported.Consumer sentiment is still extremely weak, however. The index fell to a record low of 50 in June, just half as much as the 101 reading in the last month before the pandemic in 2020.
Americans view inflation as somewhat less of a threat. They expect the inflation rate in the next year to average about 4.4%, compared to 4.9% in the prior month.Top Federal Reserve officials pay close attention to inflation expectations because it could be a harbinger of future price trends.
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