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Economy in Brief

U.S. Consumer Sentiment Increases Further
by Tom Moeller  November 11, 2011

The University of Michigan's Index of Consumer Sentiment for mid-November rose to 64.2 from 60.9 in October. The latest number was better than Consensus expectations for 61.0 and it was the third consecutive monthly rise. Consumers' reading of current economic conditions as well as expectations rose this month, each for the third consecutive period. During the last ten years there has been a 59% 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.

Yesterday's comments by Fed Chairman Ben S. Bernanke can be found here.

University of Michigan
(Q1'66 = 100)
Mid Nov Oct Sep Nov Y/Y 2010 2009 2008
Consumer Sentiment 64.2 60.9 59.4 -10.3% 71.8 66.3 63.8
 Current Economic Conditions 76.6 75.1 74.9 -6.7 80.9 69.6 73.7
 Consumer Expectations 56.2 51.8 49.4 -13.3 66.0 64.1 57.3
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