In its final release for May, the University of Michigan announced that the Consumer Sentiment Index fell to 100 from 102.4 in the previous estimate but still came in better than the April reading of 97.2.
“Although consumer sentiment remained at very favorable levels, confidence significantly eroded in the last two weeks of May,” the publication read.
“The late-month decline was due to unfavorable references to tariffs, spontaneously mentioned by 35% of all consumers in the last two weeks of May, up from 16% in the first half of May and 15% in April and equal to the peak recorded last July in response to the initial imposition of tariffs.”
May (preliminary) results
- Index of Consumer Sentiment at 100 vs 97.2 in April.
- Index of Current Economic Conditions at 110 vs 112.3 in April.
- Index of Consumer Expectations at 93.5 vs 87.4 in April.
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