Recent Updates
- Sweden: Valueguard-KTH HOX House Prices (Apr), Capacity Utilization (Q3), Turnover Index (Mar)
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- Japan: Japan: Machinery Orders (Mar), Housing Credit, Loans for Equipment Funds (Q1), International Trade (Apr-Pelim)
- more updates...
Economy in Brief
U.S. Mortgage Applications Continued to Slide Amid Higher Rates
The biggest declines have been in refinancing activity, while applications for purchase are just starting to crack...
UK Inflation Jumps
Inflation is at the highest rate since the series began in January of 1989...
U.S. Industrial Production Much Stronger than Expected in April
The increase in manufacturing output in April was once again led by motor vehicle and parts production...
U.S. Retail Sales Posted Solid Rise in April
Notwithstanding falling real incomes and declining confidence measures, consumer spending posted a solid increase...
U.S. Home Builder Index Took a Steep Drop in May
This is the fifth straight month that builder sentiment has declined...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
Profits and Margins Plunge In Q1: Expect More Margin Contraction As Fed Squeezes Inflation
The Many Links of Inflation Cycle: Hard Landing Is Needed to Crack Them
Peak Inflation & Fed Policy: A Relationship Which Should Worry The Fed And Scare Investors
Why Have the Yields on TIPS Been Negative in the Past Two Years?
by Tom Moeller October 12, 2007
The University of Michigan's preliminary reading of consumer sentiment in early October fell 1.7% to 82.0 after no change in September and a huge 7.7% drop in August. The decline exceeded Consensus expectations for a reading of 84.0.
Lower consumer expectations accounted for all of the fall. The decline offset a slight improvement in September.
Long term, expectations about personal finances and business conditions during the next year fell for the sixth month this year out of ten. Expectations about business conditions rose slightly but hardly offset huge declines in the prior two months.
The view of the current economic conditions improved due to a slight increase in the view of current personal finances. The perspective of current buying conditions also improved slightly.
The assessment of government policy in October recovered the declines during the prior two months.
The University of Michigan survey is not seasonally adjusted.The reading is based on telephone interviews with about 500 households at month-end.
| University of Michigan | October (Prelim.) | September | October y/y | 2006 | 2005 | 2004 |
|---|---|---|---|---|---|---|
| Consumer Sentiment | 82.0 | 83.4 | -12.4% | 87.3 | 88.5 | 95.2 |
| Current Conditions | 98.2 | 97.9 | -8.5% | 105.1 | 105.9 | 105.6 |
| Expectations | 71.6 | 74.1 | -15.6% | 75.9 | 77.4 | 88.5 |
