U.S. Consumer Sentiment Improves in June

U.S. consumer confidence rose in early June, recovering most of its losses in May, data by the University of Michigan showed on Friday.

The Index of Consumer Sentiment rose to 86.4 this month, from 82.9 in May, while the current economic conditions index rose to 90.6, compared with 89.4 last month, according to the results of the survey of consumers.

Meanwhile, the gauge of consumer expectations surged to 83.8, from 78.8.

Accordingly, all indices showed monthly and yearly improvements, as the U.S. economy continues to show signs for recovery from the pandemic.

Data further showed that an all-time record number of consumers are now anticipating a net decline in unemployment.

Rising inflation remained a top concern of consumers, although the expected rate of inflation declined in early June.