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Consumer Sentiment in U.S. Rose in December From a Decade Low
U.S. consumer sentiment rose in early December by more than forecast on an improved economic outlook, though inflation concerns continue to weigh on households. The University of Michigan’s preliminary sentiment index increased to 70.4 from a decade-low 67.4 in November, data released Friday showed. The figure exceeded the median estimate of 68 in a Bloomberg survey of economists. The sentiment data follow a government report released earlier Friday showing the cost of goods and services rose 6.8% in November from a year earlier, the fastest annual pace since 1982. Consumers expect inflation to rise 4.9% over the ... (full story)