(University of Michigan) The index gauging the consumer sentiment in the US was 58.4 in May, down by 10.4% from April.
Following the declines in May, the index is now 29.6% below last year and back to the lows witnessed in March. The fall in the index reflected concerns about inflation and negative views on the purchasing conditions for durables and houses.
The gauge of the current economic conditions also fell to hit 63.3 in May, remaining 8.8% below last month and 29.2% below the prior year.
Americans remained less upbeat about the future, with the gauge of consumer expectations falling the most by a monthly 11.7% to 55.2 in May. The index is 29.9% below last year.
SPY is up +1.67%, DXY is down -0.03%
