US Consumer Sentiment Revised Up To 13-Year High

The final reading of the University of Michigan's consumer sentiment for the United States rose to 98.5 in January of 2017 compared to a preliminary figure of 98.1 and 98.2 in December. It is the highest reading since January of 2004, due to a more optimistic outlook for the economy and job growth during the year ahead as well as more favorable economic prospects over the next five years.

The gauge of future expectations went up to 90.3 from a preliminary of 88.9 and 89.5 in December. In contrast, the barometer for current economic conditions fell to 111.3 from a preliminary of 112.5 and 111.9 in December.

Americans expect the inflation rate to be 2.6 percent next year, compared with 2.2 percent in December and unchanged from preliminary estimates. Over the next 5 years, inflation is expected to be 2.6 percent, up from 2.5 percent earlier reported and 2.3 percent in the previous month.

University of Michigan | Joana Taborda |
1/27/2017 3:16:54 PM