Consumer Sentiment (Final): Revised Modestly Lower

Bottom Line: Consumer sentiment was revised downward in late May, but it is still moderately above April's final level of 89.0%. This month's print leaves sentiment back near the highs of the last year but the general trend of improvement has stalled. Consumer Sentiment was REVISED DOWN by 1.1 points in late May to 94.7%, compared with market expectations for a decrease to 95.4%.Sentiment has improved by 3.0 points over the past 3 months. With this month's moderate increase, compared to April's final level of 89.0%, sentiment is 4.4% ABOVE its year ago level. Sentiment has been rising since August 2011 amid substantial volatility. Current Conditions were REVISED UP by 1.3 points to 109.9%, the highest level since January 2007. Current conditions are now 9.0% ABOVE their year ago level and have been climbing for the past 4 years. Consumer Expectations were REVISED DOWN by 2.6 points to 84.9%. With this month's sharp increase, compared to April's final level of 77.6%, expectations are 0.8% ABOVE their year ago level.