May consumer sentiment highest in more than four years

http://news.yahoo.com/may-consumer-sentiment-highest-more-4-years-142300756--business.html;_ylt=AonDpEqmkhINtw8Mxe3anpOs0NUE;_ylu=X3oDMTRjamU1ZmZhBG1pdANTZWN0aW9uTGlzdCBGUCBCdXNpbmVzcwRwa2cDZjQ0MGZhYjktMmNhOS0zNzQ0LTg2MTYtNzYzY2EzYjhhZjdhBHBvcwMyBHNlYwNNZWRpYVNlY3Rpb25MaXN0VGVtcAR2ZXIDOWE3MWFlMjItYTY4OC0xMWUxLTg0NmItNDk3MDgxZDY4OWMy;_ylg=X3oDMTFlamZvM2ZlBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

May consumer sentiment highest in more than four years
Reuters

NEW YORK (Reuters) - Consumer sentiment rose to its highest level in more than four years in May as Americans stayed optimistic about the job market, while higher income households expected to see bigger wage increases, a survey released on Friday showed.

The Thomson Reuters/University of Michigan's final reading on the overall index on consumer sentiment rose to 79.3 from 76.4 in April, topping forecasts for 77.8 and an initial May reading of the same.

It was the highest level since October 2007.

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The survey's barometer of current economic conditions jumped to 87.2 from 82.9, while its gauge of consumer expectations improved to 74.3 from 72.3.

The indexes were at their highest levels since January 2008, and July 2007, respectively.

The survey's one-year inflation expectation eased to 3.0 percent from 3.2 percent, while the survey's five-to-10-year inflation outlook dipped to 2.7 percent from 2.9 percent.