Consumer sentiment deteriorated slightly in the United States in May

By: Trademagazin Date: 2023. 05. 30. 10:49

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Although the American consumer sentiment index of the Conference Board economic research institute deteriorated in May compared to the previous month, it was much less than expected.

The Conference Board’s Consumer Confidence Index fell to 102.3 points in May from the upwardly revised 103.7 points in April, but it turned out to be significantly better than the expected 99.0 points.

The indicator of the perception of the current situation, which is based on consumers’ assessment of the current business and labor market conditions, decreased to 148.6 points from 151.8 points in the previous month.

The outlook index – which is based on consumers’ short-term outlook on income, business and labor market conditions – decreased from 71.7 points to 71.5 points. The index of expectations has remained below 80 in every month except December since February 2022, which can be linked to recessionary expectations for the following year.