Revisions To Marquee Sentiment Survey Offer Glimmer Of Hope

At least it wasn't revised lower. The final read on University of Michigan sentiment for May was 69.1, lackluster to be sure, but a marginal improvement from this month's disastrous preliminary reading. The month-to-month decline, 10%, still counts as the biggest percentage drop since headline sentiment notched a record low in mid-2022, when the Fed upped the ante to 75bps hike increments in the battle to arrest a generational inflation surge. As the figure above shows, the 1.7ppt upward re