UoM Consumer Sentiment Indicator Improves, but Still Climbing Out of the Hole
The UoM consumer sentiment jumped higher today, but it's still far from pre-virus levels
Skerdian Meta•Friday, June 12, 2020•1 min read
The consumer sentiment was improving from December until February in the US, as the University of Michigan indicator showed. That was due to the trade deal between US and China, which helped improve the economic sentiment overall. But the coronavirus came and in March the UoM indicator fell to 95 points from 101 in February and in April it crashed to 75 points, as people got locked inside.
It improved a little to 72.3 points in May and it did so again today, increasing to 78.9 points for June, but that still a long way away from the 100 level of the pre-coronavirus crisis. Below is the UoM report for this month:
US UoM Consumer Sentiment
- Consumer sentiment June 78.9 points vs 75.0 expected
- May consumer sentiment was 73.7 points; Revised to 72.3 points
- Current conditions 87.8 vs 85.2 expected
- Expectations 73.1 vs 69.0 expected
- 1-year inflation expectations 3.0% vs 3.1% expected
- 5-10 year inflation expectations 2.6% vs 2.7% expected
That’s a solid beat but it’s just one step towards digging out of a deep hole. Although, current conditions and expectations for the near future are improving as well, but the protests and the destruction in the US might turn the sentiment lower again. Inflation expectations have ticked lower but that’s not a surprise.
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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