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The Star
2 days ago
- Business
- The Star
UM consumer sentiment index rises for first time in 6 months
CHICAGO, June 27 (Xinhua) -- The Consumer Sentiment Index released Friday by the University of Michigan Surveys of Consumers rose to 60.7 in the June 2025 survey, up from 52.2 in May and below last June's 68.2. The UM consumer sentiment has improved for the first time in six months. The Current Index rose to 64.8 in June, up from 58.9 in May and below last June's 65.9; the Expectations Index rose to 58.1, up from 47.9 in May and below last June's 69.6. Labor market expectations improved in June but remain considerably worse than at the beginning of the year. About 57 percent of consumers expect unemployment to rise in the year ahead, down from 66 percent in March but still much higher than the 40 percent seen in December 2024. Expectations for consumers' own income growth improved modestly in June, but June readings were worse than six months ago. Expectations for personal finances soared 17 percent from near historic lows in May but were 17 percent below December 2024. Beliefs about the anticipated effects of tariffs have shaped consumers' views of the economy this year. In June, about 59 percent of consumers provided unsolicited comments about tariffs, down from 66 percent in May but marking three consecutive months a majority of consumers did so. The share of consumers expecting business conditions to worsen in the year ahead fell from 64 percent in May but stood high at 55 percent, compared with just 29 percent in November 2024. "Consumers feel they have some breathing room given that the historically high tariffs announced earlier this year have not been sustained, and the worst-case scenarios for the economy have not come to fruition," said economist Joanne Hsu, director of the University of Michigan's Survey of Consumers. "However, consumers still worry that higher inflation and an economic slowdown are on the horizon, and they remain very cautious." The Surveys of Consumers is a rotating panel survey based on a nationally representative sample that gives each household in the coterminous United States an equal probability of being selected. Interviews are conducted throughout the month by telephone.
Time of India
13-06-2025
- Business
- Time of India
US consumer sentiment jumps for first time in 2025, says UMich report; tariff pause and steady prices lift confidence
US consumer sentiment improved in June for the first time in six months, according to preliminary data released Friday by the University of Michigan, offering signs of economic stabilization as inflation remains subdued and trade tensions with China temporarily ease. The university's closely watched Consumer Sentiment Index jumped to 60.5 in June from 52.2 in May — a 16% rise that marks the sharpest increase in a year. The rebound follows five consecutive monthly declines and lifts the index from its second-lowest level in the survey's nearly 75-year history. Despite the uptick, sentiment remains down 20% compared with December 2024. "Consumers appear to have settled somewhat from the shock of the extremely high tariffs announced in April and the policy volatility seen in the weeks that followed,' said Joanne Hsu, director of the survey, AP reported. 'However, consumers still perceive wide-ranging downside risks to the economy.' The improvement comes after President Donald Trump postponed a sweeping round of tariffs on imports from roughly 60 countries in April and subsequently reached a truce with China last month. While tariffs remain elevated by historical standards, the White House has signaled a willingness to pause escalation pending further talks. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like CVS Is Silent About This 87¢ ED Med – Here's the Truth Health Alliance by Friday Plans Undo The Conference Board's Consumer Confidence Index — a separate metric released late last month — also showed improvement after five straight monthly declines, with analysts attributing the shift to easing fears over inflation and trade policy unpredictability. Official inflation data released earlier this week showed consumer prices rising 2.4% year-on-year in May, up slightly from 2.3% in April. While tariffs are expected to put further pressure on prices in the second half of the year, inflation remains close to the Federal Reserve's 2% target for now. Sentiment remains sharply divided along political lines. Republicans, who broadly support Trump's economic policies, continue to express stronger confidence than Democrats, whose views had been more optimistic under the Biden administration. However, sentiment improved across party lines in June, including among independents. Inflation expectations among consumers also declined in June — a development likely to be welcomed by the Federal Reserve ahead of its policy meeting next week. Economists view such expectations as a key variable in inflation dynamics, as fears of rising prices can influence wage demands and spending behavior. The Fed is widely expected to leave its benchmark short-term interest rate unchanged at approximately 4.3% when it meets next week, as policymakers monitor the evolving impact of trade policy and inflationary risks on the broader economy. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
13-06-2025
- Business
- Time of India
US consumer sentiment improves in June
U.S. consumer sentiment improved for the first time in six months in June, but that could be temporary after Israel launched missile strikes against Iran, boosting oil prices . The University of Michigan Surveys of Consumers on Friday said its Consumer Sentiment Index jumped to 60.5 this month from a final reading of 52.2 in May. Economists polled by Reuters had forecast the index rising to 53.5. "Consumers appear to have settled somewhat from the shock of the extremely high tariffs announced in April and the policy volatility seen in the weeks that followed," said Surveys of Consumers Director Joanne Hsu. "However, consumers still perceive wide-ranging downside risks to the economy." Consumers' 12-month inflation expectations fell to 5.1% from 6.6% in May. Long-run inflation expectations dipped to 4.1% from 4.2% last month. Oil prices surged more than $5 per barrel on Friday to multi-year highs as the Israeli strikes on Iranian nuclear facilities stoked fears of retaliation and disruption of crude supplies from Middle East. Live Events
Yahoo
13-06-2025
- Business
- Yahoo
US consumer sentiment improves in June
WASHINGTON (Reuters) -U.S. consumer sentiment improved for the first time in six months in June, but that could be temporary after Israel launched missile strikes against Iran, boosting oil prices. The University of Michigan Surveys of Consumers on Friday said its Consumer Sentiment Index jumped to 60.5 this month from a final reading of 52.2 in May. Economists polled by Reuters had forecast the index rising to 53.5. "Consumers appear to have settled somewhat from the shock of the extremely high tariffs announced in April and the policy volatility seen in the weeks that followed," said Surveys of Consumers Director Joanne Hsu. "However, consumers still perceive wide-ranging downside risks to the economy." Consumers' 12-month inflation expectations fell to 5.1% from 6.6% in May. Long-run inflation expectations dipped to 4.1% from 4.2% last month. Oil prices surged more than $5 per barrel on Friday to multi-year highs as the Israeli strikes on Iranian nuclear facilities stoked fears of retaliation and disruption of crude supplies from Middle East. (Reporting By Lucia Mutikani; Editing by Chizu Nomiyama) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-06-2025
- Business
- Yahoo
US consumer sentiment improves in June
WASHINGTON (Reuters) -U.S. consumer sentiment improved for the first time in six months in June, but that could be temporary after Israel launched missile strikes against Iran, boosting oil prices. The University of Michigan Surveys of Consumers on Friday said its Consumer Sentiment Index jumped to 60.5 this month from a final reading of 52.2 in May. Economists polled by Reuters had forecast the index rising to 53.5. "Consumers appear to have settled somewhat from the shock of the extremely high tariffs announced in April and the policy volatility seen in the weeks that followed," said Surveys of Consumers Director Joanne Hsu. "However, consumers still perceive wide-ranging downside risks to the economy." Consumers' 12-month inflation expectations fell to 5.1% from 6.6% in May. Long-run inflation expectations dipped to 4.1% from 4.2% last month. Oil prices surged more than $5 per barrel on Friday to multi-year highs as the Israeli strikes on Iranian nuclear facilities stoked fears of retaliation and disruption of crude supplies from Middle East. (Reporting By Lucia Mutikani; Editing by Chizu Nomiyama) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
