After slipping in April, May’s preliminary University of Michigan sentiment survey was flat at 98.8 (as hope rose and current conditions slipped).
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Current Conditions dropped from 114.9 to 113.3
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Expectations ‘hope’ rose from 88.4 to 89.5.
The headline index was unchanged…
What is likely to capture attention, however, are the small uptick in near term inflation expectations, the downward slippage in income expectations, and the expected stabilization of the national unemployment rate at decade lows.
Confidence in a rising stock market dropped to its lowest since April 2017…
The data will “provide some additional points for both sides in the debate about the timing and number of future interest-rate hikes,” Richard Curtin, director of the University of Michigan consumer survey, said in a statement.
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