Preliminary Results for May 2015
|Index of Consumer Sentiment||88.6||95.9||81.9||-7.6%||+8.2%|
|Current Economic Conditions||99.8||107.0||94.5||-6.7%||+5.6%|
|Index of Consumer Expectations||81.5||88.8||73.7||-8.2%||+10.6%|
Next data release: May 29, 2015 for Final May data at 10am ET
Surveys of Consumers chief economist, Richard Curtin
Confidence fell in early May as consumers became increasingly convinced that there would be no quick and robust rebound following the dismal 1st quarter (even if the under performance was exaggerated by inadequate seasonal adjustments). The decline was widespread among all age and income subgroups as well as across all regions of the country. In contrast to last year's rapid 2nd quarter revival, this year the economy faces reduced production and employment from lower oil prices, falling exports, and rising imports from a stronger dollar. Although this was not the first time in recent years consumers have abandoned expectations for a faster recovery, the data nonetheless suggest that consumers have remained optimistic about their future personal finances and have maintained their buying plans at reasonably high levels. Overall, at this time the data are still consistent with a 3% growth rate in real personal consumption expenditures during 2015.