U.S. Consumer Sentiment Improves More Than Expected In May
May 12 2017 - 5:08AM
RTTF2
Consumer sentiment in the U.S. has seen a modest improvement in
the month of May, according to a report released by the University
of Michigan on Friday.
The report said the preliminary reading on the consumer
sentiment index for May came in at 97.7 compared to the final April
reading of 97.0. Economists had expected the index to inch up to
97.3.
The uptick by the headline index came amid an improvement in
consumer expectations, as the index of consumer expectations rose
to 88.1 in May from 87.0 in April.
Meanwhile, the University of Michigan said the current economic
conditions index came in at 112.7 in May, unchanged from the
previous month.
"Consumer sentiment remained on the high plateau established
following Trump's election, with the early May figure nearly
identical with the December to May average of 97.4," said Richard
Curtin, the survey's chief economist.
He added, "The Trump bump was relatively small given that the
Sentiment Index averaged 91.8 in the comparable six month period a
year ago and 94.5 in the same period two years ago."
On the inflation front, one-year inflation expectations inched
up to 2.6 percent in May from 2.5 percent in April, but five-year
inflation expectations dipped to 2.3 percent from 2.4 percent.
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