According to preliminary University of Michigan data, American consumer confidence ticked up in early December as households grew more optimistic about current conditions and the outlook ahead. The overall Consumer Sentiment Index rose to 53.3 in December from 51.0 in November, beating economists’ forecasts of 52.0. Within the report, the Current Conditions gauge slipped slightly to 50.7 from 51.1, while the Expectations component jumped to 55.0 from 51.0, underscoring brighter sentiment for the months to come.
Inflation expectations also eased: the one-year outlook declined to 4.1% from 4.5%, and the five-year forecast dipped to 3.2% from 3.4%. In response, the U.S. dollar remained on the defensive, dragging the U.S. Dollar Index down to multi-week lows just below the 99.00 level.
