U.S. consumer emotion was stronger than expected in the final January reading.
The University of Michigan’s scrutinize of consumer attitudes for January slipped to 95.7 in January, just 0.2 mentions below December’s 95.9. Economists polled by Reuters expected this month’s certain reading to slip to 95.
“Consumer sentiment has remained largely unchanged for various than a year at very favorable levels,” the survey’s chief economist Richard Curtin broke in a statement.
Curtin noted that the index now sits only 1.1 burdens below the 96.8 average reading for 2017 – the highest yearly usually in 17 years.
“Consumers continued to expect growth in jobs and profits, but anticipated a slightly higher inflation rate,” Curtin said.
The value soared to 101.1 on Oct. 13 — the highest level since 2004 — but has deflated steadily since.
The first finger measures 500 consumers’ attitudes on future economic prospects, in areas such as individual finances, inflation, unemployment, government policies and interest rates.