Consumer sentiment at three-month high in early August |
| Reuters - Aug 21, 2012 |
U.S. consumer sentiment improved in early August to the highest in three months as sales at retailers and low mortgage rates spurred Americans to boost their buying plans, a survey showed on Friday.
But concerns about rising food prices caused a jump in both short- and long-term inflation expectations, according to the Thomson Reuters/University of Michigan consumer sentiment survey.
The data reinforced the view that economic growth could pick up in the second half of the year but still be lackluster. That was reinforced by July's leading indicator.
Growth and hiring were disappointing in the spring, but hiring picked up in July and consumers are now feeling more confident about spending, though they remain concerned about the economic outlook.
With stubbornly high unemployment and a weaker global economic picture, some analysts have raised their expectations that the Federal Reserve could launch a new round of bond buying to help prop up the economy.
Read Full Article from Reuters
- Posted: 2012-08-21 16:44:39
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