Consumer Sentiment Jumps to Highest Level in 15 Years
May 24, 2019
Americans’ feelings about the economy saw a huge increase in May, with the University of Michigan’s consumer sentiment index hitting the highest reading since 2004. The index increased to 102.4, up from 97.2 in April. Economists had been expecting a moderate increase to 97.5.
The index is based on a survey of American households’ feelings about the current state of the economy and how it will fare in the coming year. It should be noted that the survey was mostly recorded before the recent escalation in the trade war with China.