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5/27, 4:01 PM (Source: TeleTrader)
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US consumer sentiment down 10.4% in May

The Consumer Sentiment Index in the United States decreased 10.4% on a monthly basis in December and stood at 58.4, according to the final report by the University of Michigan released on Friday. Compared to May 2021, it was down 29.6%.

The Current Economic Conditions Index was down 8.8% month-on-month and down 29.2% annually, while the Index of Consumer Expectations fell 11.7% monthly and dropped 29.9% year-over-year.

"This recent drop was largely driven by continued negative views on current buying conditions for houses and durables, as well as consumers' future outlook for the economy, primarily due to concerns over inflation," said the report. "Looking into the long term, a majority of consumers expected their financial situation to improve over the next five years; this share is essentially unchanged during 2022."

Baha Breaking News (BBN) / JG