Slower Inflation Fuels Rising Optimism About the Economy
Friday, 13 September 2024, 07:28
Significant Rise in Consumer Sentiment
Slower inflation is boosting Americans' attitudes about the economy this month. According to the University of Michigan’s latest consumer survey, released Friday, consumer sentiment improved notably, rising 2% from August. This change breaks a monthslong pattern of steady sentiment and reflects greater economic optimism.
Inflation Expectations Decline
- Consumer confidence is now 40% higher than the record low reached in June 2022.
- Joanne Tsu, director of Surveys of Consumers, indicated it was the highest reading since May 2024.
- A growing share of voters, including both Republicans and Democrats, anticipate a win for Vice President Kamala Harris over former President Donald Trump in the upcoming election.
- Expectations for inflation rates have declined for the fourth straight month.
- This trend reflects a notable improvement in perceived buying conditions driven by favorable prices.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.