US: UoM Consumer Sentiment Index falls to 59.1 in May

The preliminary estimate of the University of Michigan’s (UoM) Consumer Sentiment Index for May fell to 59.1 versus an expected fall 64.0 from 65.2 in April, its lowest since August 2011, data released on Friday showed. UoM’s Consumer Expectations Index fell to 56.3 from 63.0 in April, larger than the expected drop to 62.5, while the Current Conditions Index fell to 63.6 from 69.4, versus an expected small rise to 70.5, its lowest reading since March 2009.