Sentiment (prelminary) below consensus.
Figure 1: U.Michigan Economic Sentiment (blue), Conference Board Confidence Index (brown), Gallup Confidence (green), all demeaned and divided by standard deviation 2021M01-2025m02. May observation is preliminary. Source: UMichigan, Gallup, Conference Board, and author’s calculations.
Figure 2: U.Michigan 1 year inflation expectations (blue), 5 year (tan). May observation is preliminary. Source: UMichigan.
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