May Michigan Consumer Sentiment Revised Sharply Lower from Preliminary Print, Down From April

10:12 AM EDT, 05/22/2026 (MT Newswires) -- The University of Michigan consumer sentiment index was revised downward Friday to a reading of 44.8 for May from 48.2 in the preliminary estimate, compared with expectation for no revision in a survey compiled by Bloomberg.

That was a decrease from the final reading of 49.8 in April.

The current conditions index was revised down to 45.8 from a 47.8 preliminary estimate, and lower than the 52.5 reading in April, while the expectations index was also revised downward to 44.1 from 48.5. The index was 48.1 in April.

Respondents expected a 4.8% inflation rate over the next year and 3.9% annual inflation over the next five years, up from 4.7% and 3.5% respectively in April.

"Consumer sentiment fell for the third straight month as supply disruptions in the Strait of Hormuz continue to boost gasoline prices," Michigan said. "Sentiment is now just below the previous historical trough seen in June 2022. The cost of living continues to be a first-order concern, with 57% of consumers spontaneously mentioning that high prices were eroding their personal finances, up from 50% last month."

The twice-monthly Michigan Sentiment index measures consumer sentiment early in the current month (the preliminary estimate) and is then revised later in the month (the final estimate).

The headline index is a combination of the current assessment and expectations for the near future. An increase in the reading suggests consumers are more confident, a positive for stocks if that confidence translates into spending.

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