Consumer sentiment below expectations in final May read
The University of Michigan's final May consumer sentiment index reading was 98.0, compared to the preliminary May 98.8 and the final April 98.8, according to market sources.
The expectations index was 89.1 compared to the preliminary May 89.5 and the final April 88.4.
The current conditions index was 111.8, compared to the preliminary May 113.3 and the final April 114.9.
Economists polled by IFR Markets had predicted a 98.8 reading for the main index.
The five-year inflation expectation index was 2.5%, compared to 2.5% in April, while the one-year inflation expectation index was 2.8%, compared to 2.7% in April.
The University of Michigan index is not released to the press, but only to paying subscribers.