Personal income increased 1.9% in May, above the estimate of 0.4%. Personal spending rose 0.8%, higher than the forecast of 0.7%. Details from Bloomberg...
Final University of Michigan consumer sentiment fell from 56.7 to 56.4 in June, just below an expected unchanged reading and a fresh 28-year low. The 12-month inflation forecast eased from 5.2% to 5.1%. High gasoline prices, falling home prices, declining payrolls continue to depress sentiment. More from Bloomberg...
