Summary

• The preliminary May reading for the Michigan Consumer Sentiment Index came in at 48.2, a 1.6-point drop from April's final print and below the projected 49.7 reading.
• Current Economic Conditions Index fell for a third straight month to 47.8, its lowest level on record.
• Consumer Expectations Index rose for the first time in four months to 48.5.

By Jennifer Nash

Consumer sentiment inched down further this month, hitting another record low. The preliminary May reading for the Michigan Consumer Sentiment Index came in at 48.2, a 1.6-point drop from April's final print and below

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