Consumer sentiment increased in June for the first time in six months, the latest sign that Americans’ views of the economy have improved as inflation has stayed tame and the Trump administration has reached a truce in its trade fight with China, according to the Associated Press.
The preliminary reading of the University of Michigan’s closely watched Consumer Sentiment Index, released Friday, jumped 16% to 60.5. The large increase followed steady drops that left the preliminary number last month at the second-lowest level in the nearly 75-year history of the survey. Consumer sentiment is still down 20% compared with December 2024.
Americans have largely taken a darker view of the economy’s future after President Donald Trump imposed steep tariffs on China, the European Union and dozens of other countries. In April, however, Trump postponed a set of sweeping tariffs on about 60 nations and last month reached a temporary truce with China, after both sides had sharply ratcheted up tariffs on one another.
U.S. duties remain elevated compared with historical levels, but so far they have not worsened overall inflation.
