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Monday 28th of June 2010
June 25, 2010    

US consumer sentiment up in June

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by Kay Murchie

US consumer sentiment rose in June to a level not seen since January 2008.

The Thomson Reuters/University of Michigan’s Surveys of Consumers’ index rose to 76 in June from 73.6 the previous month.

The index has averaged 84.5 over the last 10 years.

Meanwhile, the index of consumer expectations for six months from now, which monitors the direction of consumer spending, grew to 69.8 in June from 68.8 the previous month.

In other US news today, the Commerce Department revealed the world’s largest economy grew by an annualised 2.7% in the January to March period – slightly lower than the 3.2% previously estimated.

This figure is the third and final estimate and the downward revision was due to a slower rate of business investment and consumer spending.

However, it still means the world’s largest economy has grown for three consecutive quarters as it continues its recovery from the worst recession in decades.

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