diamondreelsnodepositbonus| The University of Michigan consumer confidence index fell to 67.4 in May, far below expectations

On the evening of the 10th Beijing timediamondreelsnodepositbonus, announced on FridaydiamondreelsnodepositbonusA much-watched survey report showed that despite strong signals in the economy, U.S. consumer confidence fell as inflation expectations rose.

The University of Michigan Consumer Confidence Survey Index for May was initially 67diamondreelsnodepositbonus.4, down from 77 in Aprildiamondreelsnodepositbonus.2, well below the average forecast of 76 by analysts surveyed by Dow Jones.

Consumers 'one-year and five-year inflation outlook expectations rose as indicators of pessimism emerged.

One-year inflation expectations jumped to 3.5%, up 0.3 percentage points from a month ago and reaching the highest level since November 2023.

Five-year inflation expectations rose to 3.1%, up just 0.1 percentage points, but reversed a downward trend in readings over the past few months and fell to their highest level in November.