Business

U.S. consumer sentiment improves in December

U.S. consumer sentiment improved in December amid recent gains on the stock market, while inflation expectations eased to a 15-month low, a survey showed on Friday.

The University of Michigan’s preliminary December reading on the overall index of consumer sentiment came in at 59.1, up from 56.8 in the prior month. Economists polled by Reuters had forecast a preliminary reading of 56.9.

The survey’s reading of one-year inflation expectations fell to 4.6%, the lowest reading in 15 months, from 4.9% in November. Its five-year inflation outlook was unchanged at 3.0% in November.