Global| Jul 26 2002Consumer Sentiment Firmer Than Expected
by:Tom Moeller
|in:Economy in Brief
Summary
The full-month July reading of Consumer Sentiment from the University of Michigan was firmer than Consensus expectations. The index fell sharply from June, but not by as much as the mid-month reading may have suggested. The index for [...]
The full-month July reading of Consumer Sentiment from the University of Michigan was firmer than Consensus expectations. The index fell sharply from June, but not by as much as the mid-month reading may have suggested.
The index for current conditions fell only slightly. The index for consumer expectations fell sharply to the lowest level since November.
The University of Michigan survey is not seasonally adjusted.
During the past five years there has been a 39% correlation between the level of consumer sentiment and the 3-month change in real PCE.
| University of Michigan | July | June | Y/Y | 2001 | 2000 | 1999 |
|---|---|---|---|---|---|---|
| Consumer Sentiment | 88.1 | 92.4 | -4.7% | 89.2 | 107.6 | 105.8 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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