University of Michigan preliminary June consumer sentiment rose to 48.9 from
May's record low 44.8, above economists' 46 forecast. One-year ahead inf
expectations eased to 4.6% from 4.8%; 5–10 year expectations fell to 3.4% versus
last month. Recent declines in gasoline prices—still above pre-war
levels—relieved some pressure on household finances, with low-income households
showing marked improvement. Overall sentiment remains historically weak amid the
Iran war and the associated inf surge. Survey director Joanne Hsu said gasoline
prices remain broadly unacceptable and continue to weigh on consumers' economic
views.
