The University of Michigan's Consumer Survey Center questions 500 households each month on their financial conditions and attitudes about the economy. Consumer sentiment is directly related to the strength of consumer spending. Consumer confidence and consumer sentiment are two ways of talking about consumer attitudes. Among economic reports, consumer sentiment refers to the Michigan survey while consumer confidence refers to The Conference Board's survey. Why Investors Care
| Released on 6/1/07 For May 2007 | ||||||||||||
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Highlights
The University of Michigan's consumer sentiment index was revised down to 88.3 for May from the mid-month estimate of 88.7. This still is improvement from the April final figure of 87.1. May's downward revision was primarily in the expectations component - current conditions was actually revised up slightly. Nonetheless, consumer optimism has picked up slightly - apparently reflecting a pickup in overall economic activity.
The University of Michigan's Consumer sentiment index edged up to 88.7 in May from 87.1 the prior month. Consumers apparently focused more on the tight job market than on higher gasoline prices.
Consumer sentiment Consensus Forecast for revised May 07: 88.0
Range: 87.0 to 88.7
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Consumer sentiment is mainly affected by inflation and employment conditions. However, consumers are also impacted by current events such as bear & bull markets, geopolitical events such as war and terrorist attacks. Investors monitor consumer sentiment because it tends to have an impact on consumer spending over the long run (although not necessarily on a monthly basis.) |
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