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Consumer sentiment rises to highest level since January

The consumer sentiment index rose to 97.6 in August, the highest level since January of this year. The consumer sentiment is a survey of consumers by The University of Michigan which measures the confidence in future economic prospects. U.S. consumer sentiment was expected to reach 94, according to economists surveyed by Reuters, so this news is very positive for the current U.S. economy. The rise is attributed to a more positive outlook for the overall economy as well as more favorable personal financial prospects. The index measures 500 consumers attitudes on future economic prospects, in areas such as personal finances, inflation, unemployment government policies and interest rates.

Source: CNBC, August 2017