The University of Michigan sentiment data is out (final) for July:
- preliminary report
- consumer sentiment 51.5 vs. 51.1 estimate and 50.0 preliminary
- current conditions 58.1 vs. preliminary 53.8
- expectations 47.3 vs. preliminary 47.5
- one year inflation 5.2% vs. preliminary 5.3%. Last month 5.2%
- 5 year inflation 2.9% vs. preliminary 3.1%. Last month 2.8%
The University of Michigan final sentiment came in a little bit stronger than estimate and higher than the preliminary. However, the data still remains near historic low levels.
Current conditions were also higher and above last month 57.1. The expectations Index however remained near preliminary and last month levels.
Inflation remains elevated but a little lower than the preliminary 5.3% for the one year. The 5 year inflation expectations came in at 2.9% which was lower than the preliminary estimate of 3.1%