Ann Arbor, MI, Jun. 15--Consumer sentiment jumped in early June, as Americans grew increasingly optimistic about their current and future prospects, according to figures released Tuesday.
The University of Michigan's consumer sentiment index for the month rose to 95.2, from May's 90.2. The May figure released Tuesday marks the preliminary reading on consumer sentiment and is open to revision later in the month.
Analysts had been expecting a reading closer to 90.8 in the latest index. The numbers are formally released to subscribers, but the results are widely reported by wire services.
According to wire reports, the index's gauge of how consumers feel about their current situation rose to 86.9 in early June, from May's 81.6.
The expectations index, which measures how they feel about future prospects, also strengthened, climbing to 108.1, from May's 103.6.
