Consumer Sentiment rose 68.7% in May

• Consumer sentiment rose to 68.7% from 65.1 in April which was slightly better than the expected 67.9 by economist.

"While consumers anticipate an improved economy, they nonetheless think that their own financial situation will improve only marginally during the year ahead," - Richard Curtin (director of the survey)

• 36% of consumers said their incomes had decline. 
• Further, only 1 in 10 consumers expect real income gains for 2009. 
• None the less, low prices may be attractive, as a record number of respondents mentioned “attraction of discounted prices” when asked about their next spending plans.

"Consumers still view their finances as out of balance with the economic realities they now face, and want to continue to increase their savings and reduce their debts," - Michigan report.

Source: Barron's & MarketWatch