Keeping you up to date on the latest data releases.
The University of Michigan’s Index of Consumer Sentiment decreased to 74.1 in June’s initial report, the index's lowest level since December. This follows an index of 79.3 in May. Unless there is a major upward revision to the initial estimate in the final report, June’s index will mark the first monthly decline in the index since August of last year. Both the current conditions component and the consumer expectations component showed noticeable declines, with conditions falling from 87.2 to 82.1 and expectations falling from 74.3 to 68.9. Inflation expectations remained relatively stable, as median short-run (one-year ahead) expectations were flat from May to June, remaining at 3.0 percent. They are 0.8 percent lower than in June 2011. Longer-term (five-to-ten years ahead) inflation expectations ticked up slightly from 2.7 percent to 2.9 percent.