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Economy in Brief

U.S. Consumer Sentiment Increases Further
by Tom Moeller December 9, 2011

The University of Michigan's Index of Consumer Sentiment for mid-December rose to 67.7 from 64.1 in November. The latest number was better than Consensus expectations for 65.5 and it was the fourth consecutive monthly rise. Consumers' reading of current economic conditions as well as expectations each improved for the fourth 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.

University of Michigan
(Q1'66 = 100)
Mid-Dec Nov Oct Dec  Y/Y 2011 2010 2009
Consumer Sentiment 67.7 64.1 60.9 -9.1% 67.2 71.8 66.3
 Current Economic Conditions 77.9 77.6 75.1 -8.7 79.0 80.9 69.6
 Consumer Expectations 61.1 55.4 51.8 -9.5 59.6 66.0 64.1
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