US consumer sentiment rises to 15-year high

WASHINGTON: US consumer sentiment jumped to a 15-year high in early May amid growing confidence over the economy's outlook.

The University of Michigan said its consumer sentiment index increased 5.3% to 102.4, the highest reading since 2004. Economists polled by Reuters had forecast a reading of 97.5.

The University of Michigan, however, said "the gains were recorded mostly before the trade negotiations with China collapsed and China responded with their own tariff."