Updated: 13-May-22 10:16 ET

May Univ. of Michigan Consumer Sentiment - Prelim

Updated: 13-May-22 10:16 ET

Highlights

• The preliminary University of Michigan Index of Consumer Sentiment for May dropped to 59.1 (Briefing.com consensus 63.5) from the final reading of 65.2 for April.
• In the same period a year ago, the index stood at 82.9.

Key Factors

• The Current Economic Conditions Index fell to 63.6 from 69.4. In the same period a year ago, this index was at 89.4.
• The Index of Consumer Expectations dropped to 56.3 from 62.5. In the same period a year ago, this index was at 78.8.
• The year-ahead expected inflation rate held steady at 5.4%.
• 5-year inflation expectations were unchanged at 3.0%.

Big Picture

• The key takeaway from the report is that the decline in sentiment was broad-based across income, age, education, geography, and political affiliation with inflation factoring prominently in consumers' assessment of their current financial situation.

Category	MAY	APR	MAR	FEB	JAN
Sentiment	59.1	65.2	59.4	62.8	67.2
Outlook	56.3	62.5	54.3	59.4	64.1
Present conditions	63.6	69.4	67.2	68.2	72.0