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Economy in Brief

U.S. Consumer Sentiment Recovers Slightly
by Tom Moeller  September 16, 2011

The University of Michigan's Index of Consumer Sentiment for mid-September bounced slightly higher to 57.8 following its August plunge to 55.7. A reading of 56.0 had been expected by Action Economics. Nevertheless, the reading was well below the Q2 average of 71.9 and close to figures several months before the last recession's end. A higher reading of current economic conditions accounted for the September gain but expectations fell to a new low. During the last ten years there has been a 62% correlation between the level of sentiment and the three-month change in real personal consumption.

The Reuters/University of Michigan survey data are not seasonally adjusted. The readings are based on telephone interviews with just- over 300 households. Data are in Haver's USECON database. The expectations figure is in Haver's AS1REPNA database.

University of Michigan (Q1'66 = 100) Mid
Sep
Aug Jul Sep
Y/Y
2010 2009 2008
Consumer Sentiment 57.8 55.7 63.7 -15.2% 71.8 66.3 63.8
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