Recent Updates
- China Regional: China: Beijing Household Expenditure and Income (Q2)
- New Zealand: Food Price Index, PMI, Main Benefits (Jul)
- New Zealand: Jobseeker Support by Territorial Authority (Jul)
- Korea: Import & Export Price Indexes Press (Jul)
- US: Business Formation Statistics, Producer Prices (Jul)
- more updates...
Economy in Brief
U.S. Unemployment Claims Continue on an Uptrend
Initial claims for unemployment insurance filed in the week ended August 6 rose 14,000 to 262,000...
RICS Survey Points to More U.K. Housing Sector Weakness
The survey of housing market conditions in the U.K. continues to show strength in prices versus weakness...
U.S. CPI Unchanged in July with Drop in Energy Prices
Consumer prices were unchanged in July after an outsized 1.3% m/m jump in June...
U.S. Federal Government Budget Deficit Shrinks in July
The U.S. Treasury Department reported a federal budget deficit of $211.1 billion in July...
U.S. Mortgage Applications Rose Slightly in the Latest Week
Mortgage applications increased 0.2% (-62.9% y/y) from one week earlier...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller July 29, 2005
The University of Michigan's final reading of consumer sentiment in July matched Consensus expectations and held at the improved level of 96.5 reported mid-month. Sentiment rose 0.5% for the month on top of a 10.5% increase during June.
During the last ten years there has been a 74% correlation between the level of consumer sentiment and the y/y change in real PCE, although the correlation has fallen in recent years.
Consumer expectations rose slightly less than estimated earlier in the month. The 0.6% gain followed a 12.9% surge during June but the reading of current economic conditions rose slightly instead of declining as indicated earlier.
The University of Michigan survey is not seasonally adjusted.The mid-month survey is based on telephone interviews with 250 households nationwide on personal finances and business and buying conditions. The survey is expanded to a total of 500 interviews at month end.
University of Michigan | July | June | Y/Y | 2004 | 2003 | 2002 |
---|---|---|---|---|---|---|
Consumer Sentiment | 96.5 | 96.0 | -0.2% | 95.2 | 87.6 | 89.6 |
Current Conditions | 113.5 | 113.2 | 7.9% | 105.6 | 97.2 | 97.5 |
Consumer Expectations | 85.5 | 85.0 | -6.3% | 88.5 | 81.4 | 84.6 |