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Consumer sentiment at highest level since 2007

By Jonathan Sweet
May 17, 2013
Filed under News

Consumer sentiment rebounded this month, hitting it’s highest mark in almost six years.

The Thomson Reuters/University of Michigan’s preliminary reading on the overall index on consumer sentiment rose to 83.7 from April’s 76.4, well ahead of forecasts.

The measure of current economic conditions rose to 97.5 from 89.9, the highest level since October 2007, while the future expectations measure increased six points to 74.8.

The highest percentage of consumers since 2007 also reported a favorable view of their personal finances. Those in the upper third of income had the largest gains in optimism.

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