WASHINGTON, Dec 5 (Reuters) – U.S. consumer sentiment improved in early December, but worries about high prices and the labor market persisted, a survey showed on Friday.
The University of Michigan’s Surveys of Consumers said its Consumer Sentiment Index increased to 53.3 this month from a final reading of 51.0 in November. Economists polled by Reuters had forecast the index rising to 52.
“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,” Joanne Hsu, the director of the Surveys of Consumers, said in a statement. “Similarly, labor market expectations improved a touch but remained relatively dismal.”
The survey’s measure of consumer expectations for inflation over the next year decreased to 4.1% this month from 4.5% in November. Consumers’ expectations for inflation over the next five years eased to 3.2% from 3.4% last month.
(Reporting By Lucia Mutikani; Editing by Chizu Nomiyama )
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