03:00 PM BST, United States - University of Michigan report for May:
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Michigan Current Conditions: actual 58.9; forecast 57.6; previous 59.8;
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Michigan Consumer Sentiment: actual 52.2; forecast 50.8; previous 52.2;
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Michigan Consumer Expectations: actual 47.9; forecast 46.5; previous 47.3;
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Michigan 5-Year Inflation Expectations: actual 4.2%; forecast 4.6%; previous 4.4%;
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Michigan 1-Year Inflation Expectations: actual 6.6%; forecast 7.3%; previous 6.5%;
The latest University of Michigan report showed a softer-than-expected reading for the first time in weeks. Following a stretch of elevated numbers driven by tariff concerns, inflation expectations eased, while consumer sentiment improved unexpectedly, signaling a more optimistic US consumer. Nevertheless, the Fed remains cautious, viewing the UoM data as an unreliable guide for policy decisions.
Source: xStation5
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