American consumer confidence improved more than expected in early July, climbing to its highest level in five months as inflation expectations fell sharply and retail spending showed renewed strength.
The University of Michigan’s preliminary consumer sentiment index rose to 61.8, beating the 61.5 forecast and up from 60.7 in June. It marks the second consecutive monthly increase and suggests that Americans are growing more optimistic as price pressures ease and economic momentum picks up.
One-year inflation expectations fell to 4.4 percent, down from 5.0 percent in June and a recent peak of 6.6 percent in May. Five-year expectations dropped to…
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