NEW YORK - The University of Michigan's final May consumer sentiment index reading was 79.3, compared to the preliminary May 77.8, the final April 76.4, and the preliminary April 75.8, according to market sources.
The expectations index was 74.3, compared to 71.7 earlier in May, 72.3 in April, and 72.5 earlier in April.
The current conditions index was 87.2, compared to 87.3 earlier in May, 82.9 in April, and 80.6 earlier in April.
Economists polled by Thomson Reuters had predicted a 75.0 reading for the main index, 85.5 for current conditions and 70.5 for expectations.
The five-year inflation expectation index was 2.7%, compared to 2.9% in April, while the one-year inflation expectation index was 3.0%%, compared to 3.2% in April.
The University of Michigan index is not released to the press, but only to paying subscribers.