NEW YORK - The University of Michigan's preliminary May consumer sentiment index reading was 72.4, compared to the final April 69.8 reading, the preliminary April 69.6, and the final March 67.5, according to market sources.
Economists polled by Thomson Reuters had predicted a 70.0 reading for the index.
The expectations index was 67.4, compared to 61.6 in April, 61.2 earlier in April, and 57.9 in March.
The current conditions index was 80.2, compared to 82.5 in April, 82.7 earlier in April, and 82.5 in March.
The five-year inflation expectation index was 3.0%, compared to 2.9% in April, and 3.2% in March, while the one-year inflation expectation index was 4.4%, compared to 4.6% in April, and 4.6% in March.
The University of Michigan index is not released to the press, but only to paying subscribers.
