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Economy in Brief

U.S. Consumer Sentiment Strengthens
by Tom Moeller  December 6, 2013

Consumers are feeling better about things. The index of consumer sentiment from the Reuters/University of Michigan survey jumped to 82.5 early this month from 75.1 during November. That recovered the declines since the July peak and by far outpaced expectations for an uptick to 75.3. During the last ten years there has been a 58% correlation between the level of sentiment and the three-month change in real personal consumption expenditures.

The index of current economic conditions surged roughly ten points to 97.9 (12.5% y/y), nearly a post-recession high. The index of consumer expectations showed a lesser recovery to 72.7 and remained below the October '11 high.

These data are not seasonally adjusted and can be found in Haver's USECON and UMSCA databases.

Prices from a Monetary Perspective from the Federal Reserve Bank of Cleveland is available here.

Reuters/University of Michigan (Q1'66 = 100) Dec Nov Oct Dec'12 2012 2011 2010
Consumer Sentiment 82.5 75.1 73.2 72.9 76.5 67.3 71.8
 Current Economic Conditions 97.9 88.0 89.9 87.0 85.6 79.1 80.9
 Consumer Expectations 72.7 66.8 62.5 63.8 70.7 59.8 66.0
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