Pessimism on inflation overshadows optimism on personal finances.
After voicing more positive views in April, consumer sentiment fell 10.4% in May, reverting to levels comparable to two months ago, according to the University of Michigan Surveys of Consumers.
The Consumer Sentiment Index fell to 58.4 in the May 2022 survey, down from 65.2 in April and below last May’s 82.9. The Expectations Index fell to 63.3, down from 69.4 in April and below last May’s 89.4. The Current Conditions Index fell to 55.2, down from 62.5 in April and below last May’s 78.8.
Consumer sentiment is viewed as a leading