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US: Michigan consumer sentiment final for December 59.7 versus 59.1 preliminary
Final Michigan consumer sentiment Index for December 2022 • Prior month 56.8 • Preliminary estimate 59.1 • Final Michigan consumer sentiment index 59.7 versus 59.1 preliminary • Current conditions 59.4 versus 60.2 preliminary. 58.8 last month • Expectations 59.9 versus 58.4 preliminary. 55.6 last month • one year inflation final 4.4% versus 4.6% preliminary. 4.9% last month • five year inflation expectations 2.9% versus 3.0% preliminary. 3.0% last month
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UMich Inflation Expectations Tumble To 18-Month Lows
After this morning's 'disappointingly' hotter than expected PCE print, all eyes are now on the UMich inflation expectations for any signs of hope for a dovish Fed into the Xmas weekend. This is the final print for December (so really should not be a huge market mover unless things shifted dramatically intra-month)... and it did! The 1-year inflation expectation dropped from 4.6% flash to 4.4% final (from 4.9% in November)... the lowest since June 2021 But we caution that inflation uncertainty remains extremely high.... chart The final headline UMich rose from November and the flash print, with expectations leading ... (full story)