U.S. consumer sentiment rose in early June by more than expected on improved outlooks for the economy and moderating inflation expectations.
The University of Michigan’s preliminary sentiment index increased to 86.4 from 82.9 in May, data released Friday showed. The figure came in above the median 84.2 in a Bloomberg survey of economists.
Consumers expect inflation to rise 4% over the next year, down from 4.6% in the May survey. They expect prices over the next five years to increase 2.8%, compared to 3% last month.
“Stronger growth in the national economy was anticipated, with an all-time record number of consumers anticipating a net decline in unemployment,” Richard Curtin, director of the survey, said in the report.
“Rising inflation remained a top concern of consumers, although the expected rate of inflation declined in early June,” Curtin said.
Consumers are more upbeat as travel restrictions lift, the weather warms and health concerns ebb.
American drops in-flight magazineFORT WORTH, Texas – After more than half a century in airplane seatback pockets, the American Airlines in-flight magazine American Way is going away.
An airline spokeswoman said Friday that American will retire the magazine and its online version at the end of June.
American says it’s the oldest continuously published magazine in the airline industry, dating back to 1966. American Way went from yearly to quarterly and then monthly, filled with stories about the airline, destinations it served, and an assortment of other features.
From wire reports There were also airport terminal maps and other information toward the back. It spawned imitators at many other airlines.
The pandemic hastened the demise of in-flight magazines, as airlines pulled them last year to prevent people from thumbing through pages that had been touched by other passengers. Delta and Southwest dropped theirs, and British Airways stopped stocking paper copies of “High Life” while keeping the online version.
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