Current Economic Conditions improved from 63.9 in November to 75.1 in December, while Index of Consumer Expectations decreased from 76.9 to 73.3.
Year-ahead inflation expectations increased from 2.6% in November to 2.8% in December. Nevertheless, year-ahead inflation expectations remained within the 2.3% – 3.0% range seen in the two years prior to the pandemic.
Meanwhile, long-run inflation expectations declined from 3.2% in November to 3.0% in December.
The University of Michigan commented: “Broadly speaking, consumers believe that the economy has improved considerably as inflation has slowed, but they do not feel that they are thriving; sentiment is currently about midway between the all-time low reached in June 2022 and pre-pandemic readings.”
U.S. Dollar Index moved towards session lows after the release of Michigan Consumer Sentiment report. Currently, U.S. Dollar Index is trying to settle…
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