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12.06.2015 14:44

Thomson Reuters/University of Michigan preliminary consumer sentiment index jumps to 94.6 in June

The Thomson Reuters/University of Michigan preliminary consumer sentiment index rose to 94.6 in June from a final reading of 90.7 in May, exceeding expectations for an increase to 91.5.

The Surveys of Consumers chief economist at the University of Michigan Richard Curtin said that consumer confidence rebounded in June.

Mr Curtin added that consumers remained optimistic about their future personal finances.

"The June gain was due to the most favorable personal financial prospects since 2007, with households expecting the largest wage gains since 2008," he noted.

The increase in the index was mainly driven by a rise in the index of current economic conditions, which jumped to 106.8 in June from 100.8 in May.

The index of consumer expectations climbed to 86.8 from 84.2.

The one-year inflation expectations in June fell to 2.7% from 2.8% in May.

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