US: UoM Consumer Sentiment Index improves to 15-year high of 102.4 in May vs 97.5 expected

Eren Sengezer FXStreet

According to the preliminary results for May, the University of Michigan's Consumer Sentiment Index rose to its highest level in fifteen years at 102.4 from 97.2 in April and surpassed the market expectation of 97.5.

"Consumers viewed prospects for the overall economy much more favorably, with the economic outlook for the near and longer term reaching their highest levels since 2004," the publication read. "The gains were recorded mostly before the trade negotiations with China collapsed and China responded with their own tariffs."

May (preliminary) results

Index of Consumer Sentiment at 102.4 vs 97.2 in April.
Index of Current Economic Conditions at 112.3 vs 112.3 in April.
Index of Consumer Expectations at 96 vs 87.4 in April.

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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