Michigan Consumer Sentiment Index, a measure of household confidence in the US economy, dropped to 50 in June from 58.4 in May (final estimate). Analysts predicted a decline to 50.2 points, as shown by the preliminary assessment. It is noted that the current index has become the minimum for the entire time of the calculations. In addition, the index of current economic conditions in the US fell to 53.8 points in June (from 63.3 points in May), and the index of economic expectations - to 47.5 points (from 55.2 points). Analysts had expected figures at the preliminary estimate of 55.4 points and 46.8 points, respectively. The University of Michigan Consumer Sentiment Index is compiled from a monthly survey of at least 500 US households on 50 key questions. The questions are designed to identify changes in consumer expectations regarding the economic climate, personal income and consumption. The indicator is published twice a month in the form of initial and final estimates and affects the dynamics of the US dollar, stock markets and government bonds.
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