PT Solid Gold Berjangka | US Consumer Sentiment Slumps as Inflation Expectations Rise
Ekonomi AS Consumer Sentiment Prelim UoM Consumer Sentiment PT SGB Solid Group SG Berjangka Solid Gold Berjangka
Solid Gold Berjangka | US consumer sentiment declined in early May to a six-month low as short-term inflation expectations and concerns about the job market picked up.
The sentiment index slid to 67.4 in May from 77.2, according to the preliminary reading from the University of Michigan. The figure was weaker than all forecasts in a Bloomberg survey of economists.
Consumers expect prices will climb at an annual rate of 3.5% over the next year, the highest in six months and up from the 3.2% expected in April, data Friday showed. They see costs rising 3.1% over the next five to 10 years, up slightly from a month earlier.
The decline in sentiment was broad across age, income and education groups, and also reflected growing concerns about high interest rates. While the labor market has driven economic growth over the last year, the downbeat assessment highlighted in the report adds to evidence of a slowdown.
The university’s measure of buying conditions for durable goods, some of which are financed, decreased to a one-year low.
The current conditions gauge declined to 68.8, while a measure of expectations dropped to 66.5 — both six-month lows.
Consumers’ perception of their financial situation, as well as short- and long-term economic outlooks, decreased this month.
Source : Bloomberg