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 11/14/08 For Nov 2008 | ||||||||||||
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Highlights
Consumer sentiment didn't get much of a lift from the election, holding near a record low of 57.9 in the preliminary November reading vs. 57.6 for October. There was no significant movement in the two components: current conditions slightly higher at 61.4 and expectations slightly lower at 55.7. The expectations reading, which often leads the overall index, is not pointing to any improvement. But one-year inflation expectations are improving and dramatically, falling 1 full percentage point to 2.9 percent. Stocks appeared to move higher on the report which was weak but a little less weak than the 56.0 reading that was expected.
The Reuter's/University of Michigan's Consumer sentiment index in October fell to 57.6 from September's reading of 70.3. The assessment of current conditions weakened the most in October to 58.4. All readings were at or near record lows covering nearly 60 years of data.
Consumer sentiment Consensus Forecast for preliminary November 08: 56.0
Range: 48.6 to 65.0
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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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