Recent Updates
- Euro area: ACEA Commercial Vehicle Registrations (Apr)
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Economy in Brief
U.S. Energy Prices Rise Further
Retail gasoline prices increased to $4.59 per gallon in the week ended May 23...
S&P Flash PMIs Are Mixed in May As Manufacturing Erodes Slowly
Among the early reporting countries in Europe and Japan, the S&P PMI readings for May tilt toward weakness...
NABE Lowers Growth Expectations for Next Year & 2022
The NABE expects the economic expansion to continue through its third year...
Chicago Fed National Activity Index Improves in April
The Chicago Fed National Activity Index (CFNAI) rose to 0.47 during April...
IFO Registers Small Rebound on the Month
Germany's IFO index has rebounded on the month...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
Profits & Margins Plunge In Q1: Expect More Margin Contraction As Fed Squeezes Inflation
The Many Links of Inflation Cycle: Hard Landing Is Needed to Crack Them
Peak Inflation and Fed Policy: A Relationship which Should Worry the Fed and Scare Investors
Why Have the Yields on TIPS Been Negative in the Past Two Years?
by Tom Moeller July 13, 2012
The University of Michigan's Index of Consumer Sentiment for mid-July fell to 72.0 compared to 73.2 in June. The latest figure was the lowest since December and compared unfavorably to expectations for 73.5. A lower consumer expectations reading pulled the total down with a decline to 64.8, also its lowest since December. The current conditions index reversed some of the prior month's decline with a rise to 83.2. During the last ten years there has been a 61% 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 over 300 households. Data can be found in Haver's USECON database. The expectations figure is from Action Economics and is found in Haver's AS1REPNA database.
University of Michigan (Q1'66 = 100) |
Mid-Jul | Jun | May | Jul'11 | 2011 | 2010 | 2009 |
---|---|---|---|---|---|---|---|
Consumer Sentiment | 72.0 | 73.2 | 79.3 | 63.7 | 67.3 | 71.8 | 66.3 |
Current Economic Conditions | 83.2 | 81.5 | 87.2 | 75.7 | 79.1 | 80.9 | 69.6 |
Consumer Expectations | 64.8 | 67.8 | 74.3 | 55.9 | 59.8 | 66.0 | 64.1 |