In a rare bright spot, the University of Michigan’s Consumer Sentiment Index rose to 60.5 in June, up from 52.2 last month, signaling improving confidence in the U.S. economy.
The bump is being attributed to easing inflation expectations and a slightly stronger labor market. However, consumers remain concerned about energy prices, potential global war, and political instability at home.
“People feel slightly better but this is a fragile optimism,” said Dr. Marcus Elwell, chief economist at NY Fed.
Wall Street responded with mixed results: the Dow climbed slightly while tech stocks dipped amid fears of international supply chain disruptions.
Follow us on X @Dobblog1
No comments:
Post a Comment
Join the conversation by leaving a comment below. Keep it respectful, relevant, and on-topic - we love hearing from our readers!