The University of Michigan on Friday reported slightly improved U.S. consumer sentiment in December, according to the Associated Press, with persistent worries over inflation easing marginally.
The university’s consumer sentiment index was up to 53.3 in early December from a final November reading of 51, beating the 52 mark forecast by economists but substantially lower than January’s 71.7 reading.
Historically, index readings have been in the hundreds, but recently they have hovered near record lows.
Year-ahead inflation expectations fell to 4.1% from November’s 4.5%, reaching the lowest level since January.
