Lower than expected.
The final Univ. of Michigan sentiment index is coming in at 96.8 vs 97.5 estimate. The preliminary estimate was at 97.6.
- Expectations came in at 87.7 vs 88.3 estimate. The earlier estimate was 89.0
- Current conditions come in as expected at 110.9. The earlier estimate came in at 111.0
- 1 year inflation expectations 2.6%. Unchanged from prior survey results.
- 5-10 year inflation. 2.5%. Unchanged from prior survey results.
The index remains near the high levels buoyed no doubt from employment and stock market gains. Lower gasoline prices are also a positive thing for US consumers.
Michigan's Curtin is on the wires saying that data resembles end of cycle situation but he is not forecasting a recession. I guess the glass is half empty for Curtin.
