Consumer sentiment continued its steady if somewhat confounding rise on Friday, June 25, as the Reuters/University of Michigan index posted a final reading of 76.0 compared to its early June reading of 75.5. The final reading is 7.3% higher than the 70.8 reading of June 2009.
The Reuters/University of Michigan index now stands at its highest point since January 2008.
“The slow rise in the Index of Consumer Sentiment during the past year has been due to how consumers view current conditions in the economy,” according to a news release from Reuters/University of Michigan. “The improvement was not because consumers now view the economy more favorably, but that any improvement, however small, was seen as a welcome development after the unprecedented economic recession.”
News heard about jobs has changed dramatically, for example.