Notizie economiche
28.06.2024

U.S. consumer sentiment decreases less than initially estimated in June

The final reading for the May Reuters/Michigan index of consumer sentiment came in at 68.2 compared to the flash reading of 65.6 and the May final reading of 69.1. Still, this was the lowest reading in seven months.

Economists had forecast the indicator to be revised marginally up to 65.8. 

The details of the latest Surveys of Consumers of the University of Michigan revealed that the index of current economic conditions fell by 5.3 per cent m-o-m to 65.9 this month while the index of consumer expectations increased by 1.2 per cent m-o-m to 69.6.

The report also revealed that the year-ahead inflation expectations decreased from 3.3 per cent in May to 3.0 per cent in June, compared to the preliminary reading of 3.3 per cent. This represented the lowest reading in three months. Meanwhile, the 5-year inflation expectations held steady at 3.0 per cent, compared to the preliminary estimates of 3.1%.

Commenting on the latest results, Joanne Hsu, Surveys of Consumers Director, noted that, while consumers exhibited confidence that inflation will continue to moderate, many expressed concerns about the effect of high prices and weakening incomes on their personal finances. “These trends offset the improvements in the short- and long-run outlook for business conditions stemming in part from expectations for softening interest rates,” she added.

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