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Economy in Brief

Michigan Consumer Sentiment Up Slightly in September
by Tom Moeller September 14, 2007

The University of Michigan's preliminary reading of consumer sentiment in early September rose 0.5% to 83.8. The increase about matched Consensus expectations for a reading of 83.5 but it was still near the lows of one year ago.

Improved consumer expectations accounted for all of the slight increase with a 0.9% rise to 74.4. Here again, this was near the lows of last year.

Long term, an improved expectation for business conditions during the next 5 years accounted for all of the rise in the expectations subcomponent. Expectations about personal finances and business conditions during the next year both fell.

The view of the current economic conditions slipped 0.1% after a 5.8% slide during September. The view of current personal finances increased 1.9% (6.1% y/y) but the perspective of current buying conditions fell 1.3% for the second month slip.

The assessment of government policy fell for fifth month this year with a 1.2% (-37% y/y) decline on the heals of a 7.0% drop in August.

The University of Michigan survey is not seasonally adjusted.The reading is based on telephone interviews with about 500 households at month-end.

University of Michigan September (Prelim.) August September  y/y 2006 2005 2004
Consumer Sentiment 83.8 83.4 -1.9% 87.3 88.5 95.2
   Current Conditions 98.3 98.4 1.8% 105.1 105.9 105.6
   Expectations 74.4 73.7 -4.9% 75.9 77.4 88.5
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