The College of Michigan’s last estimate of US Consumer Sentiment fell to 58.4 in May from 65.2 in April, under the flash estimate launched earlier this month of 59.1, knowledge launched on Friday revealed. In the meantime, the Consumer Expectations index was revised decrease to 55.2 from the flash estimate of 56.3, after coming in at 62.5 final month and the Present Situations index was revised decrease to 63.3 from 63.6, having printed 69.4 in April.
The 1-year measure of inflation expectations was additionally revised decrease to 5.3% from the flash estimate and final month’s studying of 5.4%.
Market Response
The info hasn’t triggered a market response, however the revision decrease to inflation expectations might weigh on the greenback a tad, because it additional bolsters the “peak inflation” narrative that’s in focus after Core PCE knowledge confirmed an easing of US worth pressures in April earlier in the day.
