Consumer Sentiment Fell in May

Consumer sentiment fell to 93.5 in June, down 1.2 points from the previous month, according to the University of Michigan Consumer Sentiment Index.

The Current Economic Conditions Index improved 0.9 points to 110.8, while the Index of Consumer Expectations fell 2.5 points to 82.4.

“Consumer were a bit less optimistic in late June due to rising concerns about prospects for the national economy,” said Richard Curtin, Chief Economist of UM Surveys of Consumers. “While no recession is anticipated, consumers increasingly expect a slower pace of economic growth in the year ahead. Importantly, the persistent strength in personal finances will keep the level of consumer spending at relatively high levels and continue to support uninterrupted economic expansion.”