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Consumer sentiment rebounds

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Consumer sentiment rebounds

Closely-watched barometer beats expectations.

Consumer sentiment rose in early June, according a closely-watched barometer of confidence.

According to multiple outlets, the closely-watched Thomson Reuters/University of Michigan consumer sentiment index rose to 94.6 in June, well above analysts’ expectations of 91.5.

The result was a 4.2% increased over May’s reading of 90.7.

In a statement quoted by Reuters, Surveys of Consumers Chief Economist Richard Curtin said, “The June gain was due to the most favorable personal financial prospects since 2007, with households expecting the largest wage gains since 2008."

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