University of Michigan’s consumer sentiment index likely climbed in May

The University of Michigan’s consumer confidence index had stayed elevated in April and into the initial few weeks of May. It is expected to have come in at 97.7 in May, according to consensus expectations. The confidence seems to have strengthened by their positive assessment of the present situation in recent months. However, the expectations index gave back some of the post-election surge.

Consumers continue to record that their current financial outlook has rebounded and are encouraged about future income gains. Markedly, very few consumers complained regarding inflation that aided in stimulating expectations about future income.

The first look at Mau’s results saw that most interviews were taken before the firing of the FBI Director and the commotion that followed, noted Wells Fargo in a research report. The University of Michigan Consumer Sentiment report has seen the partisan divide and consumers’ economic outlook, especially the issue of tax reform on future income, added Wells Fargo.