• Prior -36.5
  • Outlook -28.0 vs -27.5 expected
  • Prior -34.3

The headline reading is better-than-expected and the outlook also shows an improvement to the May survey, despite missing on estimates slightly. That reaffirms a pick up in economic sentiment but there are still considerable headwinds to the economy and with inflation still a major problem, there might not be a significant turn just yet.