According to reports from Wu, the University of Michigan's consumer report for November shows that the consumer confidence index has risen to 73, the highest in seven months.
Inflation expectations for the next year drop from 2.7% to 2.6%, the lowest level since December 2020.
Inflation expectations for the next five years slightly increase from 3% to 3.1%. The expectation index surged to 78.5, the highest since July 2021.
Partly due to improved income prospects, personal financial expectations rose by 6%, and short-term business conditions soared by 9%. The long-term business outlook index also climbed to its best level in nearly four years.