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Economy in Brief

U.S. Consumer Sentiment Improves
by Tom Moeller February 24, 2012

The University of Michigan's Index of Consumer Sentiment rose in February to 75.3 and was improved from the mid-month reading of 72.5. The figure beat expectations for 72.8 and sentiment stands at its highest level in twelve months. The consumer expectations reading recovered all of its mid-month decline with a rise to its highest in a year. Consumers' reading of current conditions recovered to 83.0 after a sharp mid-month decline. During the last ten years there has been a 60% correlation between the level of sentiment and the three-month change in real personal consumption expenditures.

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)
February Mid
Jan Dec Feb Y/Y 2011 2010 2009
Consumer Sentiment 75.3 72.5 75.0 69.9 -2.8% 67.3 71.8 66.3
 Current Economic Conditions 83.0 79.6 84.2 79.6 -4.5 79.1 80.9 69.6
 Consumer Expectations 70.3 68.0 69.1 63.6 -1.8 59.8 66.0 64.1
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