U.S. consumer confidence has slightly rebounded but remains sluggish

Preliminary research from the University of Michigan shows that the U.S. Consumer Confidence Index has slightly increased by about 6%. Although consumer confidence among low-wealth and middle-wealth individuals has improved, confidence among high-wealth consumers has decreased by 5%. High prices are eroding living standards, with 57% of respondents mentioning cost of living issues.

Inflation expectations for the coming year have dropped to 4.3%, while long-term inflation expectations have decreased to 3.4%.