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Economy in Brief
U.S. Government Budget Deficit Deepens
The U.S. Treasury Department reported that the federal government budget deficit for February of $234.0 billion...
Wholesale Inventories and Sales Rise
Wholesale inventories increased 1.2% m/m (7.7% y/y) during January...
EMU PMIs Take Grim Turn for the Worse
Manufacturing has continued to plunge while the services metric has stabilized in the past several months by drifting mostly sideways...
U.S. Leading Economic Indicators Rebound
The Conference Board's Composite Index of Leading Economic Indicators increased 0.2% (3.0% y/y) during February...
Philadelphia Fed Manufacturing Index Rebounds but Prices Weaken
The Philadelphia Fed reported in its Manufacturing Business Outlook Survey that the General Business Conditions Index rebounded this month to 13.7...
by Tom Moeller April 13, 2012
The University of Michigan's Index of Consumer Sentiment for mid-April slipped to 75.7 from 76.2 in March. The figure compared to expectations for a rise to 77.0. The reading of current economic conditions fell to 80.6 which was its lowest since December. The consumer expectation figure rose to 72.5, its highest since September 2009. 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 from Action Economics and is found in Haver's AS1REPNA database.
The Fed's latest Beige Book covering regional economic conditions is available here.
| University of
Michigan (Q1'66 = 100) |
Mid-Apr | Mar | Feb | Apr Y/Y % |
2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|
| Consumer Sentiment | 75.7 | 76.2 | 75.3 | 8.5 | 67.3 | 71.8 | 66.3 |
| Current Economic Conditions | 80.6 | 86.0 | 83.0 | -2.3 | 79.1 | 80.9 | 69.6 |
| Consumer Expectations | 72.5 | 69.8 | 70.3 | 17.7 | 59.8 | 66.0 | 64.1 |
