University of Michigan consumer sentiment final 74.0 versus 74.0 preliminary

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University of Michigan consumer sentiment final 74.0 versus 74.0 preliminary

• Prior month 71.8
• consumer sentiment Index 74.0 versus 74.0 estimate 74.0 preliminary. Last month 71.8. Best reading since April
• Current conditions 75.1 versus 77.7 preliminary and 63.9 last month. Best since April still.
• Expectations 73.3 versus 71.6 preliminary and 76.9 last month.
• One year inflation 2.8% versus 2.9% preliminary and 2.6% last month.
• Five year inflation 3.0% versus 3.1% preliminary and 3.2% last month.

A summary of comments from Consumers Director Joanne Hsu

• Consumer sentiment rose for the fifth consecutive month, reaching its highest level since April 2024.
• Buying conditions improved by 32%, driven by expectations of future price increases for large purchases.
• Expectations index showed:
  • Improvement among Republicans.
  • Decline among Democrats.
  • Stability among Independents.
• Consumers recognize economic improvements as inflation slows but do not feel they are thriving.
• Sentiment remains midway between the June 2022 all-time low and pre-pandemic levels.
• Year-ahead inflation expectations increased to 2.8%, the first rise since May, but within pre-pandemic ranges (2.3%-3.0%).
• Long-term inflation expectations declined slightly to 3.0%, modestly elevated compared to pre-pandemic levels.

The survey data can be politically influenced. Therefore not surprised to see the Republicans are on the up and up and the Democrats are on a decline. Independents are neither happier or sadder. 

                This article was written by Greg Michalowski at www.forexlive.com.

Source: University of Michigan consumer sentiment final 74.0 versus 74.0 preliminary

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