NEW YORK, Dec. 5 (Xinhua) -- The U.S. Consumer Sentiment Index rose to 53.3 in December, according to a preliminary reading released Friday by the University of Michigan (UM) Surveys of Consumers, up from the final reading of 51 in November but below last December's 74.
The preliminary reading of the Current Economic Conditions Index fell to 50.7 in December, down from the final reading of 51.1 in November and below last December's 75.1. The Index of Consumer Expectations rose to 55, up from the final reading of 51 in November but below last December's 73.3.
The 2.3-point increase in early December was concentrated primarily among younger consumers.
"Consumers see modest improvements from November on a few dimensions, but the overall tenor of views is broadly somber, as consumers continue to cite the burden of high prices," said UM Surveys of Consumers Director Joanne Hsu.
Overall, views of current conditions were little changed, while expectations improved, led by a 13-percent rise in expected personal finances, Hsu said.
Nevertheless, December's reading on expected personal finances is still nearly 12 percent below the beginning of the year, and labor market expectations improved a touch but remained relatively dismal, she said.
Year-ahead inflation expectations decreased from 4.5 percent in November to 4.1 percent in December, the lowest reading since January 2025, she said.
While short-run inflation expectations are still above the 3.3 percent seen in January, long-run inflation expectations softened from 3.4 percent in November to 3.2 percent in December, matching the January 2025 reading, she added.
