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Consumer Sentiment Rises

Preliminary Consumer Sentiment for June Easily Beats Expectations

Reopening Economy Fueling Employment Gains, In Turn Fueling Optimistic Consumer Sentiment

 

Ann Arbor, Mich. (PPD) — The Survey of Consumers preliminary reading on consumer sentiment rose from 72.3 in May to 78.9 in June, easily beating the consensus forecast. Forecasts for the headline index ranged from a low of 72.0 to a high of 78.0, and the consensus forecast was 75.0.

June (P) May (F) May (P) March May M-M Y-Y
2020 2020 2020 2020 2019 Change Change
Index of Consumer Sentiment 78.9 72.3 73.7 89.1 100.0 +9.1% -19.7%
Current Economic Conditions 87.8 82.3 83.0 103.7 110.0 +6.7% -21.5%
Index of Consumer Expectations 73.1 65.9 67.7 79.7 93.5 -10.9% -18.1%
Source: University of Michigan Survey of Consumers
F = Final | P = Preliminary

“Consumer sentiment posted its second monthly gain in early June, paced by gains in the outlook for personal finances and more favorable prospects for the national economy due to the reopening of the economy,” said Chief Economist for Surveys of Consumers, Richard Curtin. “The turnaround is largely due to renewed gains in employment, with more consumers expecting declines in the jobless rate than at any other time in the long history of the Michigan surveys.”

Preliminary Consumer Sentiment for June Easily Beats Expectations