University of Michigan consumer sentiment final 74.0 versus 74.0 preliminary ...Middle East

Prior month 71.8consumer sentiment Index 74.0 versus 74.0 estimate 74.0 preliminary. Last month 71.8. Best reading since AprilCurrent conditions 75.1 versus 77.7 preliminary and 63.9 last month. Best since April still. Expectations 73.3 versus 71.6 preliminary and 76.9 last month. One year inflation 2.8% versus 2.9% preliminary and 2.6% last month.Five year inflation 3.0% versus 3.1% preliminary and 3.2% last month.

Consumer sentiment rose for the fifth consecutive month, reaching its highest level since April 2024.Buying conditions improved by 32%, driven by expectations of future price increases for large purchases.Expectations index showed:Improvement among Republicans.Decline among Democrats.Stability among Independents.Consumers recognize economic improvements as inflation slows but do not feel they are thriving.Sentiment remains midway between the June 2022 all-time low and pre-pandemic levels.Year-ahead inflation expectations increased to 2.8%, the first rise since May, but within pre-pandemic ranges (2.3%-3.0%).Long-term inflation expectations declined slightly to 3.0%, modestly elevated compared to pre-pandemic levels.

The survey data can be politically influenced. Therefore not surprised to see the Republicans are on the up and up and the Democrats are on a decline. Independents are neither happier or sadder.

This article was written by Greg Michalowski at www.forexlive.com.

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