US Consumers Look to Brighter Economy in 2007

23 January 2007

NEW YORK: Consumers are continuing to feel good about the US economy, according to yet another survey. The preliminary January reading on sentiment by the Reuters/University of Michigan Surveys of Consumers rose to 98.0 from 91.7 at the end of December.

The figure was the highest since 103.80 in January 2004 and reflects falling gasoline prices and a favorable view of personal finances among consumers.

However, they remain concerned about inflation. The survey's one-year inflation index edged up to 3.0% from 2.9% in late December, and its five-year index stood at 3.0% for a third straight month.

Data sourced from USA Today / Reuters; additional content by WARC staff