Keeping you up to date on the latest data releases.
- Consumer Sentiment
The University of Michigan’s Index of Consumer Sentiment was revised down slightly in late June—from an index value of 71.8 to 71.5. While the headline estimate was little changed during the revision, the underlying components shifted markedly. The current conditions component was revised up from 79.6 to 82.0 in June, reportedly on easing gasoline prices, and is now 0.1 index point above May’s level. On the other hand, the expectations component was revised down sharply, from 66.8 to 64.8. Median year-ahead inflation expectations edged were revised down from 4.0 percent to 3.8 percent in late June, continuing to recede from a recent high of 4.6 percent in April. Longer-term (5- to 10-year) median inflation expectations were unrevised at 3.0 percent, up 0.1 percentage point from May.