Consumer Sentiment Spiked. Next Test Is Holiday Spending.

Consumer sentiment soared 13% in December, driven largely by easing concerns around inflation. The University of Michigan’s consumer sentiment index notched a robust reading of 69.4 in the first full week of December, up from November’s final reading of 61.3. “The consumer is feeling much better according to the current measure of sentiment,” writes Glenn Okun, a professor at New York University’s Stern School of Business.