American consumers are somewhat more pessimistic
Consumer confidence unexpectedly fell in June. Concerns about personal finances shape mood.
Consumer inflation expectations remained steady.
Photo: David Paul Morris/Bloomberg
US consumer sentiment deteriorated in June. The University of Michigan announced Friday in its monthly survey that its measure of consumer confidence fell to 65.6 points from 69.1 points in May. Experts polled by Reuters had expected an increase to 72.0 points. Consumers rate their situation as much worse than in May, and see the outlook as less rosy than before.
“The assessment of personal finances declined due to slightly increased concerns about rising prices and declining income,” explained Joan Hsu, the survey's leader. Consumer inflation expectations have remained steady: looking ahead to the next 12 months, they expect the inflation rate for goods and services to reach 3.3%, as was the case in May.
This is exactly it The inflation rate was in May It was achieved in the USA after consumer prices rose by 3.4% in April. According to the latest Federal Reserve Chairman Jerome Powell rejected the interest rate decision He said on Wednesday that the decline in inflation was an encouraging sign. But the central bank needs more data to gain more confidence that the inflation rate is moving sustainably towards the two percent target. The Central Bank keeps the key interest rate constant in the range of 5.25 to 5.5%. Many experts assume that interest rates will fall in September.
Reuters
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