Consumer Sentiment Rises Heading Into Holiday Shopping Season
December 11, 2020
American consumers were feeling more confident in the weeks following Thanksgiving, despite increasing coronavirus cases. The University of Michigan’s index of consumer sentiment climbed to 81.4 in the two week period ending December 9, up from 76.9. The Wall Street Journal had been expecting a small decline of 75.5.
Strong expectations for the future direction of the economy drove the increase, but consumers’ view of current economic conditions improved as well.
The uptick in confidence comes amid concerns that the economic recovery has slowed in November and early December as coronavirus cases are surging and states are placing restrictions on businesses and activities.