UMich consumer confidence May
- Prelim was 65.6
- Prior was 67.4
- Current conditions 65.9 vs 62.5 prelim (68.8 prior)
- Expectations 69.6 vs 67.6 prelim (66.5 prior)
- 1-year inflation 3.0% vs 3.3% prelim
- 5-year inflation 3.0% vs 3.0% prelim
The stock market is at the highs of the day on this in part due to the drop in these inflation expectations number, which are closing in on pre-pandemic levels.
UMich inflation 1 year