WASHINGTON (MarketWatch) -- U.S. consumer sentiment rose slightly in June from the prior month though it remained at relatively low levels, according to a survey released Friday by the University of Michigan and Reuters.
The consumer sentiment index rose to 69 in mid-June from 68.7 in May. Economists surveyed by MarketWatch were looking for a June result of 71. The index hit a 28-year low of 55.3 in November, and has averaged 88.2 over the last 10 years.
While some recent readings have been boosted by consumers' expectations that the end of the recession is approaching, higher prices for gas and ongoing job losses are dampening optimism.
Consumers' views on current conditions rose in June to 74.5 from 67.7 in May. Meanwhile, their expectations fell to 65.4 from 69.4. Consumers expectations for one-year inflation rose to 3.1% from 2.8%.
