Consumer Sentiment Falls to 6-Month Low in May

Consumer sentiment declined to 90.7 in May, down 5.2 points from the previous month, according to the University of Michigan Consumer Sentiment Index.

Current economic conditions fell 6.2 points to 100.8 and the index of consumer expectations fell 4.6 points to 84.2.

Respondents expect both inflation over the next year and over the next 5 years to be 2.8 percent, both up 0.2 percentage points from the previous month.

Regardless of May’s pallid report, in the first five months of 2015 the Consumer Sentiment Index averaged 94.6, the highest average level since 2004.