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U.S. Consumer Confidence Edges Up in December, Overall Sentiment Remains Cautious
BlockBeats News, December 5th - Joanne Hsu, Director of Consumer Surveys at the University of Michigan, stated that at the beginning of December, the Consumer Confidence Index rose by 2.3 points to 53.3, with the increase falling within the margin of error. This month's growth was mainly concentrated among young consumers. Despite little change in views on the current situation, there was an improvement in expectations — with personal financial expectations rising by 13%. Improvement trends were observed across all age, income, education, and political orientation groups.
However, the Personal Financial Expectations Index in December was still nearly 12% lower than at the beginning of the year. While there was a slight improvement in labor market expectations, it remains relatively sluggish. Consumers believe that some indicators have slightly improved compared to November, but overall sentiment remains generally cautious, with high price burdens continuing to be a major point of concern.
Looking ahead, the one-year inflation expectation decreased from 4.5% in November to 4.1% in December, the lowest level since January 2025, marking the fourth consecutive month of decline. However, short-term inflation expectations remain higher than 3.3% in January. Long-term inflation expectations decreased from 3.4% in November to 3.2% in December, aligning with the January 2025 reading. (Jin10)
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