June preliminary Michigan consumer sentiment index beats expectations, rising to 48.9 with inflation expectations easing.
US consumer sentiment improved to 48.9 in June’s preliminary reading, exceeding the expected 46.0 and up from May’s 48.2. The index reflects a modest rebound in consumer outlook amid easing inflation concerns.
Current conditions matched expectations at 48.4, while expectations rose to 49.3. One-year inflation expectations dipped to 4.6% from 4.8%, and five-year expectations fell to 3.4% from 3.9%.
The report follows prolonged weakness in sentiment, which has not correlated with consumer spending trends or broader economic slowdowns.