Economic Release Snapshot: Consumer Sentiment Slides in May

Each week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead.

Reports for the Week of May 6

University of Michigan consumer sentiment survey, May, preliminary (Friday)

• Expected/prior month consumer sentiment index: 76.2/77.2
• Actual consumer sentiment index: 67.4

Consumer sentiment fell more than expected in May due to worsening consumer views on the current economic conditions as well as a drop in expectations for future conditions. Consumer inflation expectations rose notably during the month, with one-year inflation expectations rising from 3.2 percent in April to 3.5 percent in May.

Upcoming Reports for the Week of May 13

Producer Price Index, April (Tuesday)
The April producer price index report is set to show mixed results during the month, with economists calling for faster headline inflation and slower core inflation on a year-over-year basis.

Consumer Price Index, April (Wednesday)
Consumer inflation is set to slow on a year-over-year basis in April, with headline and core inflation expected to moderate during the month.

Retail sales, April (Wednesday)
Retail sales are expected to show continued growth in April, which would mark three consecutive months of rising sales if estimates prove accurate.

National Association of Home Builders Housing Market Index, May (Wednesday)
Economists expect to see unchanged home builder confidence in May, which could leave the index in expansionary territory during the month.

Housing starts and building permits, April (Thursday)
April’s housing starts and building permits reports are set to show a solid rise in construction activity during the month following a sharp decline in March.

Industrial production, April (Thursday)
Industrial production is expected to grow in April, supported by a continued rise in manufacturing production during the month.