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 was revised up from 72.4 to 74.3 in late May, up from 69.8 in April. The consumer expectations component was revised up from 67.4 to 69.5 in May, a nearly 8 point gain compared to April’s value, but remain below February’s level of 71.6. The current conditions component actually ticked down slightly, from 82.5 in April to a revised 81.9 in May. Importantly, median year-ahead inflation expectations were revised down from the preliminary estimate of 4.4 percent for May to 4.1 percent, while longer-term (5- to 10-year) median inflation expectations were revised down 0.1 percentage point to 2.9 percent, unchanged from April’s level.