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Consumer sentiment slightly improved in early January, rising to 54 from December’s 52.9, exceeding economists’ expectations. However, sentiment remains significantly lower than the previous year and is still constrained by concerns regarding inflation and a softening labor market. Inflation expectations held steady at 4.2% for the coming year, though long-term expectations ticked up.
The report notes a divide among consumers, with lower-income individuals showing improved sentiment while higher-income individuals reported a decline. This cautious optimism follows a labor market report showing the U.S. added only 50,000 jobs in December, capping off a weak year of employment growth.
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