02:22 PM EDT, 05/22/2026 (MT Newswires) -- The University of Michigan consumer sentiment index for May was revised lower to a record low 44.8 from the preliminary estimate of 48.2 and was well below April's reading of 49.8.

Michigan said that inflation expectations increased in May, lifting cost-of-living concerns.

The Kansas City Fed's services index rose to 10 in May from 3 in April. Other regional services data already released have been mixed.

The Conference Board's leading indicators index rose by 0.1% in April after a 0.6% decline in March, with positive contributions from seven of the 10 components, particularly stock prices and building permits. However, higher energy costs are expected to adversely impact consumer spending going forward.