U.S. Consumer Sentiment Tumbles Much More Than Previously Estimated In May

University of Michigan data showed U.S. consumer sentiment in May deteriorated by more than previously estimated. The revised reading points to weaker consumer confidence, a mild negative for discretionary spending and broader demand expectations. Market impact is likely limited, but the update reinforces a cautious macro outlook.

Analysis

University of Michigan data showed U.S. consumer sentiment in May deteriorated by more than previously estimated. The revised reading points to weaker consumer confidence, a mild negative for discretionary spending and broader demand expectations. Market impact is likely limited, but the update reinforces a cautious macro outlook.