June’s preliminary Michigan Sentiment Index is forecast at 46.0, slightly above May’s all-time low of 44.8, signaling persistent economic pessimism.
The University of Michigan’s preliminary June Consumer Sentiment Index is expected to show a marginal improvement to 46.0, up from May’s record low of 44.8. Consumer confidence remains at historic lows, worse than during the 1970s oil crisis, 2008 recession, or COVID-19 pandemic.
The index, a key gauge of economic outlook, reflects ongoing struggles with inflation and rising living costs. Consumption drives roughly 70% of US GDP, making sentiment a critical forward-looking indicator for economic trends. Expectations for future conditions also remain near all-time lows, with the Expectations Index projected at 44.3.
The report’s release is likely to influence USD movements, given its significance for economic forecasts and monetary policy expectations.