Connect With PPD
Follow Us:
Economy

Preliminary Consumer Sentiment Reading Indicates Continued Strength in May

Consumer Spending and Consumer Sentiment. (Photo: AP)

The preliminary 98.8 reading of consumer sentiment by the Survey of Consumers indicates continued strength in May, unchanged from April. Current Economic Conditions ticked down slightly to 113.3, while the Index of Consumer Expectations rose 1.1 point to 89.5.

The changes are statistically insignificant. But the internals of the survey will thus provide some additional points for both sides in the debate about the timing and number of future interest rate hikes.

“What is likely to capture attention, however, are the small uptick in near term inflation expectations, the downward slippage in income expectations, and the expected stabilization of the national unemployment rate at decade lows,” Richard Curtain, the chief economist for the Survey of Consumers said.

“Eight-in-ten consumers anticipated interest rate hikes during the year ahead, and fewer consumers anticipated further declines in the unemployment rate–although all of the shift was toward the expectation of a stable unemployment rate rather than an increased rate.”

Worth noting, which Mr. Curtain did, American consumers have an impressive track record for anticipating and predicting changes in the actual unemployment rate.

“Overall, the data are consistent with a growth rate of 2.7% in real personal consumption from the second half of 2018 to first half of 2019.”

READ FULL STORY

SubscribeSign In
PPD Business Staff

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

Share
Published by
PPD Business Staff

Recent Posts

Media’s Worst Russian Collusion Sins May Soon Be Repeated

The most damning journalistic sin committed by the media during the era of Russia collusion…

1 year ago

Study: Mask-Mandates and Use Not Associated With Lower Covid-19 Case Growth

The first ecological study finds mask mandates were not effective at slowing the spread of…

3 years ago

Barnes and Baris on Big Tech’s Arbitrary Social Media Bans

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris note how big tech…

4 years ago

Barnes and Baris on Why America First Stands With Israel

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris discuss why America First…

4 years ago

Personal Income Fell Significantly in February, Consumer Spending Weaker than Expected

Personal income fell $1,516.6 billion (7.1%) in February, roughly the consensus forecast, while consumer spending…

4 years ago

Study: Infection, Vaccination Protects Against Covid-19 Variants

Research finds those previously infected by or vaccinated against SARS-CoV-2 are not at risk of…

4 years ago

This website uses cookies.