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- Malaysia: CPI (Jun); Singapore: Motor Vehicle Registration (Jun)
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Economy in Brief
U.S. Home Builder Index Holds Steady
The NAHB-Wells Fargo Composite Housing Market Index was unchanged (+6.8% y/y) at 68 during July...
U.S. Gasoline Price Steady; Crude Oil Falls Sharply
Retail gasoline prices edged up to $2.87 per gallon last week (+25.8% y/y)...
European Car Registrations Show Modest Rebound
European car registrations rose by 0.4% in June, a much slower pace than the 5.7% gain in May...
U.S. Retail Sales Gain Moderates
Consumers continued spending last month, but at a moderated pace...
U.S. Business Inventories Rise Moderately; Sales Strengthen
Total business inventories increased 0.4% (4.4% y/y) during May...
by Tom Moeller September 27, 2013
Consumer sentiment from the Reuters/University of Michigan survey fell sharply this month to 77.5 (-1.0% y/y) from 82.1 during August. Consensus expectations had been for stability at 82.0. The mid-month sentiment reading was 76.8. During the last five years there has been a 44% correlation between the level of sentiment and three-month growth in real PCE.
The latest sentiment reading reflected weakness in both major components. The consumer expectations figure fell to 67.8 (-7.8% y/y), its lowest level since April. Sentiment regarding current economic conditions fell to 92.6 but remained 8.1% higher than last September.
The Reuters/University of Michigan survey data are not seasonally adjusted. The final monthly readings are based on telephone interviews with at least 500 households. Data can be found in Haver's USECON database. The expectations figure is from Action Economics and can be found in Haver's AS1REPNA database.
Bubbles Tomorrow, Yesterday, but Never Today? from the Federal Reserve Bank of San Francisco can be found here.
| Reuters/University of Michigan (Q1'66 = 100) | Sep | Aug | Jul | Sep '12 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|
| Consumer Sentiment | 77.5 | 82.1 | 85.1 | 78.3 | 76.5 | 67.3 | 71.8 |
| Current Economic Conditions | 92.6 | 95.2 | 98.6 | 85.7 | 85.6 | 79.1 | 80.9 |
| Consumer Expectations | 67.8 | 73.7 | 76.5 | 73.5 | 70.7 | 59.8 | 66.0 |
