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Economy in Brief

U.S. Consumer Sentiment Continues To Improve
by Tom Moeller January 13, 2012

The University of Michigan's Index of Consumer Sentiment for mid-January rose to 74.0 from 69.9 in December. The latest figure was the highest since last February and better than Consensus expectations for 71.0. Consumers' expectations rose the most to the highest level since February. The reading of current conditions also was its highest since then. 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.

Opportunities to Reduce Regulatory Burden and Improve Credit Availability is the title of today's speech by Federal Reserve Governor Elizabeth A. Duke and it can be found here.

Employment Patterns During the Recovery: Who Are Getting the Jobs and Why? from the Federal Reserve Bank of Kansas City can be found here.

University of Michigan
(Q1'66 = 100)
Mid-Jan Dec Nov Jan Y/Y 2011 2010 2009
Consumer Sentiment 74.0 69.9 64.1 -0.3% 67.4 71.8 66.3
 Current Economic Conditions 82.6 79.6 77.6 1.0 79.1 80.9 69.6
 Consumer Expectations 68.4 63.6 55.4 -1.3 59.9 66.0 64.1
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