The University of Michigan's preliminary May consumer sentiment index reading was 97.7, compared to the final April 97.0, and the preliminary April 98.0, according to market sources.

The expectations index was 88.1, compared to the final April 87.0, and the preliminary April 86.9.

The Institute for Social Research at the University of Michigan, which releases the consumer sentiment report.
The Institute for Social Research at the University of Michigan, which releases the consumer sentiment report. Bloomberg News

The current conditions index was 112.7, compared to the final April 112.7, and the preliminary April 115.2.

Economists polled by Thomson Reuters had predicted a 97.0 reading for the main index, 87.0 for expectations and 112.7 for current conditions.

The five-year inflation expectation index was 2.3%, compared to 2.4% in April, while the one-year inflation expectation index was 2.6%, compared to 2.5% in April.

The University of Michigan index is not released to the press, but only to paying subscribers.

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Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.