Financial News: U.S. Consumer Sentiment Rebounds Slightly More Than Previo

U.S. Consumer Sentiment Rebounds Slightly More Than Previously Estimated In June

(RTTNews) - Revised data released by the University of Michigan on Friday showed consumer sentiment in the U.S. rebounded by slightly more than previously estimated in the month of June.

The University of Michigan said its consumer sentiment index for June was upwardly revised to 49.5 from the previously reported 48.9.

The revised reading is well above the record low of 44.8 in May but came in modestly below economist estimates of 50.0.

"Sentiment remains in unfavorable territory at 13% below the February 2026 reading prior to the start of the Iran conflict, and nearly 20% less than a year ago," said Surveys of Consumers Director Joanne Hsu.

She added, "The cost of living remains at the forefront of consumers' minds; for the third straight month, over half of consumers spontaneously mentioned that high prices are weighing down their personal finances."

The report said the current economic conditions index rose to 47.7 in June from 45.8 in May, while the index of consumer expectations jumped to 50.7 in June from 44.1 in May.

On the inflation expectations front, year-ahead expectations dipped to 4.6 percent in June from 4.8 percent May but still substantially exceed the 3.4 percent reading seen before the Iran conflict began.

The University of Michigan also said long-run inflation expectations slid to 3.3 percent in June from 3.9 in May, remaining a bit higher than the 2.8 to 3.2 percent range seen in 2024.

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