Recent Updates
- China Regional: China: Beijing Household Expenditure and Income (Q2)
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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 October 12, 2007
The University of Michigan's preliminary reading of consumer sentiment in early October fell 1.7% to 82.0 after no change in September and a huge 7.7% drop in August. The decline exceeded Consensus expectations for a reading of 84.0.
Lower consumer expectations accounted for all of the fall. The decline offset a slight improvement in September.
Long term, expectations about personal finances and business conditions during the next year fell for the sixth month this year out of ten. Expectations about business conditions rose slightly but hardly offset huge declines in the prior two months.
The view of the current economic conditions improved due to a slight increase in the view of current personal finances. The perspective of current buying conditions also improved slightly.
The assessment of government policy in October recovered the declines during the prior two months.
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 | October (Prelim.) | September | October y/y | 2006 | 2005 | 2004 |
---|---|---|---|---|---|---|
Consumer Sentiment | 82.0 | 83.4 | -12.4% | 87.3 | 88.5 | 95.2 |
Current Conditions | 98.2 | 97.9 | -8.5% | 105.1 | 105.9 | 105.6 |
Expectations | 71.6 | 74.1 | -15.6% | 75.9 | 77.4 | 88.5 |