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Economy in Brief
U.S. Energy Prices Are Mixed
Retail gasoline prices slipped to $2.88 per gallon last week (+24.2% y/y)...
U.S. Home Builder Index Backpedals
The Composite Housing Market Index from the NAHB-Wells Fargo fell 2.9% (+3.0% y/y) to 68 during June ...
Japan's Loses Its Trade Surplus
In May, Japan has logged its second trade deficit in 13 months and only its third in the last 28 months...
U.S. Industrial Production Slips Unexpectedly
The Federal Reserve reported that industrial production eased 0.1% (+3.5% y/y) during May...
Empire State Manufacturing Index Continues to Strengthen
The Empire State Manufacturing Index of General Business Conditions rose to 25.0 during June, the highest level in eight months...
by Tom Moeller March 30, 2012
The University of Michigan's Index of Consumer Sentiment for March increased to 76.2 from 75.3 in February. The figure compared to expectations for a slight dip to 75.0. An improved reading of current economic conditions led the gain in last month's sentiment that was offset by a decline in consumer expectations. 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) |
Mar | Mid Mar |
Feb | Jan | Mar Y/Y |
2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|
| Consumer Sentiment | 76.2 | 74.3 | 75.3 | 75.0 | 12.9% | 67.3 | 71.8 | 66.3 |
| Current Economic Conditions | 86.0 | 84.2 | 83.0 | 84.2 | 4.2 | 79.1 | 80.9 | 69.6 |
| Consumer Expectations | 69.8 | 68.0 | 70.3 | 69.1 | 20.6 | 59.8 | 66.0 | 64.1 |
