Consumer Sentiment Index Rises in June

June 30, 2006 10:10 AM, EDT

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he University of Michigan’s consumer sentiment index for June rose to 84.9 from a 79.1 reading in May as a decline in gasoline prices left consumers more to spend on other goods, Bloomberg reported.

The gain in confidence, the first in three months, was higher than the preliminary 82.4 reported two weeks ago.

The survey’s current conditions index rose to 105.0 in June from 96.1.

The expectations index, a measure of optimism on the next one to five years, rose to 72.0 following a 68.2 reading in May.