US consumer sentiment falls further in May: UMich Survey

The University of Michigan's Consumer Sentiment Index edged past expectations with a print of 69.1, falling 8.1 points month-over-month. Catalysts Hosts Seana Smith and Brad Smith break down what this report forecasts for the US consumer, businesses, and the broader labor market.

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This post was written by Luke Carberry Mogan.

Transcription de la vidéo

We've got University of Michigan's consumer sentiment index just released right now.

I mean, take a look at the numbers.

Sentiment fell to 69.1 but is coming in higher than what the street had anticipated.

The index had been at 77.2 in the prior month.

Current Economic conditions index that actually falling to 69.6 versus 79 the prior month.

Expected change in median prices during the next year rose to 3.3% versus 3.2% last month.

Going on with the inflation narrative sticky inflation that we've been talking about here at Yahoo Finance for quite some time expected change in median prices during the next 5 to 10 years.

That remains unchanged here, Brad at just around 3%.

Yeah, this is pretty remarkable here this, as they mentioned in the survey of Consumers director Joanne Shu, saying, This is a statistic.

Oh my gosh, statistically significant change here and the decrease bringing the sentiment to its lowest reading in about five months Now here's what you should also focus in on the year head outlook for business conditions that saw a particularly notable decline here, they mentioned views about personal finances, little change, consumers expressing particular concern over labour markets.

That's a little new here and also expecting unemployment rates to rise and income growth to slow here, too.