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17.05.2019 22:19

U.S. consumer sentiment index raise more than forecast in early May

A report from the University of Michigan revealed on Friday the preliminary reading for the Reuters/Michigan index of consumer sentiment climbed to 102.4 in early May. That was the highest reading since January 2004.

Economists had expected the index would increase to 97.5 this month from April’s final reading of 97.2.

According to the report, the index of current U.S. economic conditions edged up to 112.4 in May from 112.3 in the previous month. Meanwhile, the index of consumer expectations surged from 87.4 in April to 96.0 this month, its highest level since 2004.

The report noted that consumers viewed prospects for the overall economy much more favorably, but added that the gains were recorded mostly before the trade negotiations with China collapsed and China responded with their own tariffs.


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