Consumer Sentiment Rebounded Slightly in Early December

Consumer Sentiment Rebounded Slightly in Early December

The preliminary December results from the University of Michigan Surveys of Consumers show overall consumer sentiment rebounded slightly in early December but remains well below pre-pandemic levels. Rising prices remain a key driver of overall sentiment.

Consumer sentiment increased to 70.4 in early December, up from 67.4 in November (see first chart), a gain of 4.5 percent. The index remains 12.8 percent below the year ago level and 27.6 percent below the 2018 – 2019 average (see second chart).

The current-economic-conditions index rose to 74.6 from 73.6 in November (see first chart). That is a 1.4 percent increase but leaves the index with a 17.1 percent decrease from December 2020 and a 33.7 percent decline from the 2018 – 2019 average (see second chart).

The second…

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