(CercleFinance.com) – American household morale rose above the figure initially estimated in May, according to the final results of the monthly survey from the University of Michigan published on Friday.
The confidence index finally stood at 69.1 this month, compared to 77.2 in April, compared with a figure of 67.4 first estimate. However, this is a five-month low.
The author of the report, Joanne Hsu, above all highlights the concerns expressed by consumers about the job market, which according to them should be characterized by a rise in the unemployment rate and a slowdown in wage increases in the coming months.
The prospect of high interest rates remaining for a prolonged period also weighs on their plans.
‘The deterioration of their expectations suggests that several factors are likely to penalize consumer spending,’ warns Joanne Hsu.
One-year inflation expectations stand at 3.3% compared to 3.2% last month.
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