Keeping you up to date on the latest data releases.
- Consumer Sentiment
According to the latest release from the University of Michigan, its Index of Consumer Sentiment increased to 72.4 in May, up from 69.8 in April. The overall increase was due to a jump in the expectations component, which rose from 61.1 to 67.4 in May, and came despite a 2.3 point tick down in the current conditions component. Consumer expectations have risen steadily over the past three months, but remain below February’s level of 71.6. Median year-ahead inflation expectations actually edged down to 4.4 percent in May, compared to 4.6 percent in April. The release noted that the tick down was connected to an expectation that gas prices will decrease. Longer-term (5- to 10-year) median inflation expectations ticked up to 3.0 percent from 2.9 percent in April.