Keeping you up to date on the latest data releases.
- Consumer Sentiment
The University of Michigan’s Index of Consumer Sentiment continued its upward push, rising from an index value of 73.6 in May to 76.0 in June (a slight increase over the early June estimate. The overall increase came as the current economic conditions component jumped up from 81.0 to 85.6, while the increase in the expectations component was more muted; from 68.8 in May to 69.8 in June. The expectations component has been relatively stagnant over the past year, up just 0.6 index point from last June. Inflation expectations slipped down slightly in June relative to May but were revised up from the preliminary report. One-year-ahead average inflation expectations fell from 4.1 percent in May to 3.3 percent in June (the median ticked down from 3.2 percent to 2.8 percent); while longer-run (5- to 10-year-ahead) average expectations slid down from 3.4 percent to 3.1 percent during the month (with the median edging down from 2.9 percent to 2.8 percent).