BusinessUS consumer confidence rose 8% in June, survey finds

    US consumer confidence rose 8% in June, survey finds

    A survey conducted by the University of Michigan showed that more Americans are now optimistic about inflation, finding that 8% of consumers showed more confidence in the month of June compared to May.

    According to the analysis released Friday, Americans are “reflecting increased optimism as inflation eased and policymakers solved the debt ceiling crisis”, the report highlighted.

    The US average has come under pressure since last year, when inflation soared to record levels and the Federal Reserve raised interest rates to control consumptionwhich led many companies to reduce their expenses and created recessionary uncertainty.

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    Inflation was located in the latest report from the Bureau of Labor Statistics at 4.0%, data that allowed the Fed to pause its monetary policies, that decision left interest rates at 5.25%.

    The researchers noted that expectations for next year in terms of inflation fell to 3.3% in the first week of June compared to 4.2% in May. For Comerica Bank Chief Economist Bill Adams “sharp drop in near-term consumer inflation expectations points to another slowdown in June CPI reportwhich will come out before the next Fed decision,” he said.

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    Although inflation is subsiding, Fed officials announced in their latest presentation that it will take at least two more increases this year to bring it to the 2% targetthis due to the figures thrown by the subjacent inflation which remain high.

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    Source: La Opinion

    This post is posted by Awutar staff members. Awutar is a global multimedia website. Our Email: [email protected]


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