5/24/2021 7:16:49 PM GMT
American Consumer Confidence expected to retreat in May.
Inflation, racing gasoline prices may have undermined optimism.
Michigan Consumer Sentiment unexpectedly declined in May.
Retail Sales, Control Group, were weaker than forecast in April.
The US labor market is overflowing with work. In March 8.1 million positions were on offer in the Job Openings and Turnover Survey (JOLTS), the most on record. Unfilled jobs were likely even higher in April as barely one-quarter of the projected million hires took place.
The pandemic is ending. The US has had one of the most successful vaccination campaigns in the world. Lockdowns are over, the economy is expected to soar at 6.5% or more this year.
1/25/2021 6:56:05 PM GMT
Confidence predicted to rise slightly to 89 from 88.6.
Consumer outlook has fallen from September s 101.3 pandemic high.
Michigan Consumer Sentiment had faded since its October s top.
Markets are focused on the federal stimulus package.
American consumers are waiting out the end of the pandemic and if they have not given up hope their caution reflects the deterioration of the labor market.
Consumer Confidence from the Conference Board is forecast to edge up to 89 in January from 88.6. Confidence has been eroding since reaching the pandemic high of 101.3 in September. Confidence was 132.6 in February.
Michigan Survey
The Michigan Survey of Consumer Sentiment touched its pandemic high in October at 81.8, a half-year after plunging from 101 in February to 71.8 two months later in April. The Index slipped to 79.2 in January from December s 80.7.