US: UoM Consumer Sentiment Index declines to 82.9 (final) in May as expected

• Consumer confidence in the US weakened modestly in May.
• US Dollar Index stays in the positive territory above 90.00. 

The Consumer Sentiment Index in the US declined to 82.9 (final) in May from 88.3 in April, the University of Michigan's latest Surveys of Consumers showed on Friday. This reading came in slightly higher than the flash estimate of 82.8 and matched the market expectation.

Further details of the publication revealed that the Current Economic Conditions Index declined to 89.4 from 97.2 and the Consumer Expectations Index edged lower to 78.8 from 82.7. Finally, the 1-year Inflation Outlook jumped to 4.6% from 3.4%.

Market reaction

The US Dollar Index retreated from session highs after this report and was last seen gaining 0.22% on the day at 90.20.