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14.06.2019 22:10

U.S. consumer sentiment index falls slightly more than forecast in early June

A report from the University of Michigan revealed on Friday the preliminary reading for the Reuters/Michigan index of consumer sentiment fell to 97.9 in early June.

Economists had expected the index would decrease to 98.0 this month from May’s final reading of 100

In early June, consumer sentiment reversed the May gain due to tariffs as well as slowing gains in employment, the report said. Some of the decline was due to expected tariffs on Mexican imports, which may be reversed in late June, but most of the concern was with the 25% tariffs on nearly half of all Chinese imports. Consumers responded by lowering growth prospects for the national economy, and as a consequence, reduced the expected gains in employment.

According to the report, the index of current U.S. economic conditions rose to 112.5 in June from 110.0 in the previous month. Meanwhile, the index of consumer expectations fell to 88.6 this month from 93.5 in March.


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