A report from the University of Michigan revealed on Friday the preliminary reading for the Reuters/Michigan index of consumer sentiment rose 9.1 percent m-o-m to 78.9 in early June.

Economists had expected the index would increase to 75.0 this month from May’s final reading of 72.3.

According to the report, the index of current U.S. economic conditions increased 6.7 percent m-o-m to 87.8 in June from 82.3 in the previous month. Meanwhile, the index of consumer expectations surged 10.9 percent m-o-m to 73.1 this month from 65.9 in May.

The report noted that: “Consumer sentiment posted its second monthly gain in early June, paced by gains in the outlook for personal finances and more favorable prospects for the national economy due to the reopening of the economy. The turnaround is largely due to renewed gains in employment, with more consumers expecting declines in the jobless rate than at any other time in the long history of the Michigan surveys.”