Consumer Sentiment Rose 9.1% in Early June

Washington, DC, June 12, 2020-Consumer sentiment edged higher in early June, rising from 72.3 in May to 78.9-a 9.1% increase-according to preliminary data from the University of Michigan's latest Surveys of Consumers.

The results were better than the market expectation of 75, according to the report, which also says the Current Economic Conditions Index rose to 87.8 from 82.3 and the Index of Consumer Expectations edged higher to 73.1 from 65.9.

"Consumer sentiment posted its second monthly gain in early June, paced by gains in the outlook for personal finances and more favorable prospects for the national economy due to the reopening of the economy," says Richard Curtin, Surveys of Consumers chief economist. "The turnaround is largely due to renewed gains in employment, with more consumers expecting declines in the jobless rate than at any other time in the long history of the Michigan surveys."

Read the full report here.