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University of Michigan final US consumer sentiment nearly unchanged in May

U.S. consumer sentiment for May remained virtually unchanged from April, according to the University of Michigan, whose prior reading earlier in the month came in at 97.7.

The consumer sentiment index's final May reading was 97.1, compared with 97.0 the previous month and 94.7 a year ago.

The current economic conditions index stood at 111.7, compared to 112.7 in April, and the consumer expectations index increased to 87.7 from 87.0.