- Consumer confidence in the US decreased to early May.
- The expectation of one year inflation rose slightly to 7.3%.
The feeling of the American consumer was weakened in early May, according to the preliminary survey of the University of Michigan. The consumer’s feeling index fell to 50.8 from 52.2 in April, below market expectations and marking a decrease in household trust.
The fall was widespread. The current conditions indicator was reduced to 57.6 from 59.8, while the consumer expectations component fell from 47.3 to 46.5, which points to growing concern about the economic perspective.
Inflation expectations, meanwhile, increased. One year forecast rose to 7.3% from 6.5%, while the five -year perspective increased to 4.6% from 4.4%, suggesting that consumers are becoming more cautious to price pressures.
Market reaction
The dollar showed little immediate reaction to the data. The American dollar index (DXY) continues to be around the 100.80 area, sailing in a narrow range and moving marginally.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
