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- Thomson Reuters/University of Michigan final consumer sentiment index rises to 94.7 in May
Thomson Reuters/University of Michigan final consumer sentiment index rises to 94.7 in May
The Thomson Reuters/University of Michigan final consumer sentiment index climbed to 94.7 in May from 89.0 in April, down from the preliminary estimate of 95.8 and missing expectations a rise to 95.4.
"Sespite the meager GDP growth as well as a higher inflation rate, consumers became more optimistic about their financial prospects and anticipated a somewhat lower inflation rate in the years ahead," the Surveys of Consumers chief economist at the University of Michigan Richard Curtin.
"The biggest uncertainty consumers see on the horizon is not whether the Fed will hike interest rates in the next few months, but the outlook for future government economic policies under a new president," he added.
The current economic conditions index increased to 109.9 in May from 106.7 in April, down from the preliminary reading of 108.6.
The index of consumer expectations rose to 84.9 in May from 77.6 in April, down from a preliminary reading of 87.5.
The one-year inflation expectations declined to 2.4% in May from 2.8% in April, down from the preliminary reading of 2.5%.
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