Consumer Sentiment Improved in Early December
December 06 2019 - 10:43AM
Dow Jones News
By Kate Davidson
WASHINGTON--Americans' economic outlook improved significantly
in December, though nearly all of the gain was among upper income
households, according to a University of Michigan survey released
Friday.
-The survey's headline index of consumer sentiment was 99.2 in
early December, better than the 96.5 reading that economists
surveyed by The Wall Street Journal expected. The index also was
higher than the 96.8 reading in late November.
-The survey's index of current economic conditions -- based on
respondents' views of theirs and other consumers' financial
situation -- was 115.2 in early December, up from 111.6 in late
November.
-Richard Curtin, the survey's chief economist, said that while
the House impeachment inquiry has dominated news headlines,
virtually no consumer spontaneously mentioned it in response to any
survey question. "Nonetheless, the data indicate the strong impact
of partisanship on economic expectations, which has widened in the
past few months," Mr. Curtin said. Despite the divide between
Democrats and Republicans, he said independents have very favorable
expectations of the economy, "indicating the continuation of the
expansion based on consumer spending."
Write to Kate Davidson at kate.davidson@wsj.com
(END) Dow Jones Newswires
December 06, 2019 10:28 ET (15:28 GMT)
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