The final reading for the January Reuters/Michigan index of consumer
sentiment came in at 64.9 compared to the flash reading of 64.6 and the December
final reading of 59.7. That was the
highest reading since April (65.2).
Economists had foreseen the indicator to remain unrevised at 64.6.
The details of the latest Surveys of Consumers of the University of
Michigan showed that the index of current economic conditions jumped 15.2 percent
m-o-m to 68.4 this month. Meanwhile, the index of consumer expectations climbed
4.7 percent m-o-m at 62.7.
According to the report, the estimates of year-ahead expected inflation decreased
from 4.4 percent in December to 3.9 percent in January versus the preliminary
reading of 4.0 percent. That represented the lowest reading since April 2021
(3.4 percent). Meanwhile, the 5-year inflation expectations were unchanged at
2.9 percent compared to the preliminary estimate of 3.0 percent.