WASHINGTON (MNI) – U.S. consumer sentiment rose to its highest
level in four years at the start of May, according to the
Reuters/University of Michigan Consumer Sentiment survey released
Friday.
The flash estimate of the May consumer sentiment index was 77.8,
beating the median expectation of 76.4 in MNI’s survey of economists and
the highest reading since January 2008. The index came in at 76.4 in
April.
The index’s measure of how consumers view current conditions came
in at 87.3, an increase from 82.9 reported last month and also the
highest reading since January 2008. The index was 86.0 in March’s
report, and 83.0 in February.
The preliminary gauge of consumers’ expectations of future
conditions fell to 71.7 from 72.3 in April. This index came in at 69.8
in March and 70.3 in February.
Initial 1-year inflation expectations for May are at 3.1% down from
3.2% in April. The expectation was 3.9% in March. Preliminary five-year
inflation expectations are at 3.0% compared to 2.9% in last month’s
report. March’s expectation was for 3.0%.
** MNI Washington Bureau: 202-371-2121 **
[TOPICS: M$U$$$,MAUDS$]
