by Michael Tarsala
In line with that thesis, consumer sentiment reached a four-year high, based on the May data release.
The chart above bears out what Giboney is saying — a slow, but steady move to the upside. The preliminary reading of the University of Michigan-Thomson Reuters index reached 77.8, its best mark since January 2008, a month after the recession began.
The current economic conditions index, a separate measure, also had its best reading since early 2008.
Keep in mind, the sentiment index — as is the case with many economic indicators — is not a markets signal.
It may, however, be reflecting that consumers are less stressed about losing their job than in past months, and they may have more to spend, due to lower gasoline prices.
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