US: Consumer sentiment remains solid since Trump's election - UoM

Eren Sengezer FXStreet

The final reading of University of Michigan Consumer Sentiment Index eased to 97.1 from 97.7 and missed the market consensus of 97.5.

Key highlights from Surveys of Consumers chief economist, Richard Curtin's comments:

Consumer sentiment has continued to move along the high plateau established following Trump's election. The final May figure was virtually unchanged from either earlier in May or the April reading. Indeed, the May figure was nearly identical with the December to May average of 97.3
Since no major policies, such as healthcare, taxes, or infrastructure spending have yet been adopted, the partisan divide may reflect differences in policy preferences expressed as expected economic outcomes
Despite the expected bounce back in spending in the current quarter, personal consumption is expected to advance by 2.3% in 2017

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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