Consumer sentiment improved sharply in early September, according to media reports on Friday of the Reuters/University of Michigan index. The consumer sentiment index rose to 70.2 from 65.7 in August. This is the first gain in the past three months.
The increase was above the consensus forecast of Wall Street economists who had expected sentiment to improve to 68.0. Economists expected sentiment to improve because of rising stock prices and a sense that the recession may be ending.
Source: St. Louis Fed