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Economy in Brief
U.S. Financial Accounts Show Moderate Borrowing, Average Ratio to GDP
rowing in U.S. financial markets slowed in Q2 2018, according to the Federal Reserve's Financial Accounts data...
U.S. Small Business Optimism Diminishes
The NFIB Small Business Optimism Index declined to 104.8 during November...
U.S. Gasoline Prices Fall; Crude Oil Costs Rise
Gasoline prices declined to an average $2.42 per gallon (-2.6% y/y)...
ZEW Assessments Shift and Weaken in December
The economic situation has worsened everywhere...
U.S. JOLTS: Job Openings and Hires Rates Improve
The Bureau of Labor Statistics reported that the total job openings rate improved to 4.5% during October...
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 |
