U.S. consumer sentiment rises to 15-year high

U.S. consumer sentiment rises to 15-year high

Holiday shoppers look at store windows at Henri Bendel store on 5th Avenue in New York November 23, 2012. REUTERS/Brendan McDermid/File Photo

WASHINGTON (Reuters) – U.S. consumer sentiment jumped to a 15-year high in early May amid growing confidence over the economy’s outlook.

The University of Michigan said its consumer sentiment index increased 5.3% to 102.4, the highest reading since 2004. Economists polled by Reuters had forecast a reading of 97.5.

The University of Michigan, however, said “the gains were recorded mostly before the trade negotiations with China collapsed and China responded with their own tariff.”

Reporting by Lucia Mutikani; Editing by Phil Berlowitzi

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