The University of Michigan’s preliminary sentiment index (MSI) rose to 86.5 from 84.9 in March, according to data released Friday, it is at a VirusCasedemic high.
Consumers are more upbeat as the economic recovery strengthens. A surge in pent-up consumer demand is expected to drive the US back to its pre-VirusCasedemic strength. At the same time, the Fed is watching to see how quickly prices increase as the economy takes off.
US consumers expect inflation to rise 3.7% over the next yr, the highest since March 2012. They expect prices over the next 5 yrs to increase 2.7%, compared to 2.8% last month.
Many US consumers said that they more justified buying based on improved job and income prospects, and they are upbeat about their current financial situation and buying conditions remained solid.
Have a healthy weekend, Keep the Faith!