Keeping you up to date on the latest data releases.
- Consumer Sentiment
The University of Michigan’s Index of Consumer Sentiment rose back up to 73.6 in May’s final report, matching its readings in February and March and erasing its 1.4-point slip in April. Sentiment has pulled up from a recession low of 55.3 and sits just below January’s recent high of 74.4. The index made much progress throughout 2009 but has remained relatively flat so far in 2010. Improvement in the consumer expectations component drove the overall increase in May, rising 2.3 points to 68.8, while current economic conditions remained unchanged at 81.0. One-year-ahead average inflation expectations climbed 0.3 percentage point to 4.1 percent in May, slightly higher than the average recorded over the last five years, and longer-run (5- to 10-year-ahead) expectations rose from 3.2 percent to 3.4 percent during the month, in line with the average since 2005.