Consumer Sentiment increased to 94.6
The University of Michigan preliminary consumer sentiment index increased to 94.6, topping all estimates on increase to 91.3, from a final reading of 90.7 in May that was the lowest in six months. Consistent labor-market improvement has helped buoy consumers’ attitudes even as costs at the gas pump rise from the cheapest rates since 2009. Further job gains and bigger paychecks should brighten moods and help underpin the household spending that makes up the largest part of the economy.
“The June data are consistent with a 3 percent annual growth rate in real personal consumption expenditures during 2015,” Richard Curtin, director of the Michigan Survey of Consumers, said in a statement. “The majority of consumers anticipated good times in the economy as a whole during the year ahead.”
Despite the figures data did not have any major impact on the markets. Euro is currently being traded around 1.1260 area, Sterling is at 1.5570 level, while Aussie is few points above 0.7720 area.
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