USA Today (06/26/15) Anita Balakrishnan
The consumer sentiment index rose 6% from May to June, according to the University of Michigan. The jump to 96.1 marks the biggest increase since 2004, beating expectations of 94.6, according to a Bloomberg survey.
The metric, which asks consumers to evaluate prospects for the national economy, their personal finances, and buying conditions, is reflective of the current uptick in consumer disposition, with the index now at a five-month high. “Consumer spending will remain the driving force of economic growth in 2015,” says Richard Curtin, the chief economist on the report. He forecasts 3% growth in consumer spending this year.