University of Michigan consumer sentiment index (final) for May 58.4 vs. 59.1

• Consumer sentiment index 58.4 vs. 59.1 estimate (and preliminary).
• expectations index 55.2 vs. 56.3 preliminary
• current conditions index 63.3 vs. 63.6 preliminary
• one year inflation 5.3% vs. 5.4% preliminary
• 5 year inflation 3.0% vs. 3.0% preliminary (4th month in a row at 3.0%)

The sentiment index is the lowest since 2011.

The expectations index is still above the low for the year from March at 54.3. The low for the year was the lowest expectations since October 2011 (see chart below).