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Consumer Sentiment Index Rebounds to 85.5 in June

June 25, 2021 by Forex Winner Leave a Comment

Consumer Sentiment Index Rebounds to 85.5 in June

Source: University of Michigan

Consumer sentiment rebounded in June, driven by improved economic prospects after a decline in May.

  • The Index of Consumer Sentiment stood at 85.5 in June, up 3.1% from May’s 82.9 and up 9.5% from June 2020’s 78.1.
  • The latest reading is the second-highest since the COVID-19 pandemic hit, behind April’s 88.3.
  • The June climb was driven by households with over $100,000 incomes and their economic outlook.
  • Consumers believe inflation is temporary, with expectations down to 4.2% versus May’s 4.6%.
  • A series-high proportion of consumers expect employment to improve and an interest rate hike in the coming year.
  • Consumers indicated that risks from emerging COVID-19 variants are “appreciable.”
  • Respondents will maintain a higher level of emergency funds, and are unlikely to reduce savings to pre-pandemic levels.
  • The Index of Consumer Expectations gained 6.0% month-on-month and 15.5% year-on-year to 83.5. 

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