US: Consumer Sentiment likely to improve to 97.5 in May – Wells Fargo
|The research team at Wells Fargo Securities explain the University of Michigan’s Consumer Sentiment is expected by market to improve to 97.5 from its previous reading of 97.0.
Key Quotes
“The University of Michigan’s Consumer Sentiment index remained elevated in April and into the first few weeks of May, with the first look coming in at 97.7 for May. In recent months, it appears that sentiment is bolstered by their positive assessment of the present situation; although the expectations index gave back some of the post-election surge. Consumers continue to note their current financial outlook has improved and are encouraged about future income gains. Notably, very few consumers complained about inflation, which helped boost expectations about future income.”
“The first look at May’s results noted most interviews were conducted before the firing of the FBI Director and the tumult that followed—any impact of which would be apparent in the final print. The Univ. of Michigan Consumer Sentiment report has examined the partisan divide and consumers’ economic outlook, particularly the issue of tax reform on future income.”
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