Reflecting a significant upward revision from the preliminary reading, Thomson Reuters and the University of Michigan released a report on Friday showing that consumer sentiment improved in the month of June.
The report showed that the consumer sentiment index for June was upwardly revised to 82.5 from the preliminary reading of 81.2.
With the upward revision, the index exceeded economist estimates and came in above the final May reading of 81.9.
"Consumers believe the first quarter decline in economic activity was due to the harsh winter weather, and that the economy has already returned to positive economic growth," survey director Richard Curtin said, according to Reuters.
The improvement by the headline index came as the barometer of current economic conditions rose to 96.6 in June from 94.5 in May.
On the other hand, the report said the gauge of consumer expectations slipped to 73.5 in June from 73.7 in the previous month.
The survey's one-year inflation expectation dipped to 3.1 percent from 3.3 percent, while the five-to-10-year inflation outlook edged up to 2.9 percent from 2.8 percent.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.