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Economy in Brief

Consumer Sentiment Rise Is To The Highest Level Since July
by Tom Moeller  December 23, 2013

The index of consumer sentiment from the Reuters/University of Michigan survey jumped to 82.5 for all of this month from 75.1 during November. That nearly recovered all of the decline since July and roughly matched expectations for an uptick to 83.0. The December figure equaled the mid-month reading. 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 98.6 (13.3% y/y), the post-recession high. The index of consumer expectations showed a lesser recovery to 72.1 and remained below the October 2011 high.

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

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 98.6 88.0 89.9 87.0 85.6 79.1 80.9
 Consumer Expectations 72.1 66.8 62.5 63.8 70.7 59.8 66.0
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