fxs_header_sponsor_anchor

Breaking: UoM Consumer Sentiment Index recovers to 73.7 in May vs. 68 expected

The Consumer Sentiment Index in the US edged higher to 73.7 in May (preliminary) from 71.8 in April, the University of Michigan's latest Surveys of Consumers showed on Friday. This reading came in better than the market expectation of 68.

Further details of the publication revealed that the Current Economic Conditions Index rose to 83 from 74.3, and the Index of Consumer Expectations fell to 67.7 from 70.1.

"Confidence inched upward in early May as the CARES relief checks improved consumers' finances and widespread price discounting boosted their buying attitudes," said Richard Curtin, Surveys of Consumers chief economist. "Despite these gains, personal financial prospects for the year ahead continued to weaken, falling to the lowest level in almost six years, with declines especially sharp among upper income households." 

Market reaction

The US Dollar Index staged a modest rebound and turned flat on the day at 100.25 after the data. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.