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08.05.26 - 17:12
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American Consumers Have Never Been Less Confident Despite Inflation Fears Easing; UMich (ZeroHedge)
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American Consumers Have Never Been Less Confident Despite Inflation Fears Easing; UMich
With the "mini war" still ongoing (albeit with a 'ceasefire' in place), expectations were for a continued slide (already at record lows) in the American consumer's sentiment in preliminary UMich data for May released today.
And while the expectations were correct in direction, once again they underestimated just how bad things are as the headline UMich print fell from 49.8 to 48.2 (a new record low and below the 49.5 expectation).
Under the hood was more mixed with Current Conditions tumbling to 47.8 from 52.5 (new all-time low) while Expectations ticked up from 48.1 to 48.5 (better than expected).
Not a pretty picture with all three indices below 50.
Source: Bloomberg
The American Consumer has been less confident...
Overall, inflation expectations eased last month: Year-ahead inflation expectations softened a touch from 4.7% last month to 4.5% this month, and Long-run inflation expectations i...
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