Consumer confidence -- and inflation expectations -- rise
The Conference Board just released its May confidence index. Here are the details:
* Overall confidence rose to 108 from a revised 106.3 in April (originally reported as 104). Both the present situation and the expectations indices climbed.
* Inflation expectations jumped. Consumers expect 5.5% inflation over the next 12 months. That reading is up sharply from 5.1% in April and the highest since last August.
* As for housing, the percentage of respondents planning to buy a house dropped. Only 2.9% of those surveyed said they planned to buy a house in the next six months, down from 3% a month earlier and the lowest since December.
Bond prices are essentially unchanged on the news, while 10-year yields are hovering around 4.87%.
* Overall confidence rose to 108 from a revised 106.3 in April (originally reported as 104). Both the present situation and the expectations indices climbed.
* Inflation expectations jumped. Consumers expect 5.5% inflation over the next 12 months. That reading is up sharply from 5.1% in April and the highest since last August.
* As for housing, the percentage of respondents planning to buy a house dropped. Only 2.9% of those surveyed said they planned to buy a house in the next six months, down from 3% a month earlier and the lowest since December.
Bond prices are essentially unchanged on the news, while 10-year yields are hovering around 4.87%.
posted by Mike Larson at
10:00 AM
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