Consumer sentiment drops to 83.7 in early June

U.S. consumer sentiment eased in early June, according to a monthly survey released Friday by Reuters and the University of Michigan. The consumer sentiment index fell to 83.7 from 88.3 in May. Economists were expecting the index to fall to 87.0, reported MarketWatch. The current conditions index dropped to 100.2 from 105.1. The expectations index fell to 73.0 from 77.6. Inflation expectations over the next five years fell to 3% from 3.1%, while inflation expectations for the next year rose to 3.5% from 3.3%.

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