WASHINGTON (Dow Jones)–US consumer sentiment weakened in January. The U.S. consumer sentiment index, calculated at the University of Michigan, fell to 71.1 in the month-end survey from 74.0 at the end of December. Economists polled by Dow Jones Newswires had expected a reading of 73.2. In the first survey in the middle of the month it was 73.2.
The index for expectations was 69.3 (previous month: 73.3, provisional: 70.2), the index for the assessment of the current situation was given as 74.0 (75.1 or 77.9).
Consumers’ inflation expectations for the next twelve months increased compared to the previous month to 3.3 from 2.8 percent. Over a five-year period, they increased to 3.2 from 3.0 percent.
US consumers play a key role in the US economy because around 70 percent of gross domestic product depends on private consumption.
Website: http://www.sca.isr.umich.edu/
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(END) Dow Jones Newswires
January 24, 2025 10:09 ET (15:09 GMT)