U.S. consumer sentiment rose in early August, continuing its climb from a record low earlier this summer as inflation expectations improved.
The preliminary August estimate of the University of Michigan consumer sentiment index, which surveys consumer attitudes on the state of the economy, rose 3.6 index points to 55.1 from a July reading of 51.5. Consumer sentiment has increased since dropping to 50 in June—the lowest reading on records dating back to 1952.