Published: 2024-06-14T14:11:58.000Z
U.S. June Michigan CSI - Lower on current conditions
Senior Economist , North America
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June’s preliminary Michigan CSI showed an unexpected fall to 65.6 from 69.1, to its lowest since November. Significantly the fall was led by current conditions, a sign that the economy may be slowing, as also suggested by yesterday’s sharp rise in initial claims.
The headline index is the weakest since November.
Current conditions fell sharply to 62.5 from 69.6, reaching their lowest since December 2022.
Expectations saw only a modest dip to 67.6 from 68.8 though this is the lowest since December.
Inflation expectations did not change much, the 1-year view unchanged at 3.3% though a rise in the less volatile 5-10 year view to 3.1% from 3.0% is disappointing.
