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People shop at a supermarket in Foster City, California, the United States, Jan. 11, 2024.
Washington, DC
CNN
—
Americans’ attitudes on the economy are improving substantially as inflation slows.
The University of Michigan’s latest consumer survey showed that sentiment improved greatly this month, soaring 13% from December, according to a preliminary reading released Friday. Sentiment reached its highest level since July 2021.
“Consumer views were supported by confidence that inflation has turned a corner and strengthening income expectations,” Joanne Hsu, the university’s surveys of consumers director, said in a release. “Over the last two months, sentiment has climbed a cumulative 29%, the largest two-month increase since 1991 as a recession ended.”
Inflation eased markedly throughout 2023 without a sharp rise in unemployment, which has helped perk up moods among US consumers in recent months. It remains to be seen whether inflation could…
