U of M Sentiment 93.1 vs 94 Expected
U of M Sentiment 93.1 vs 94 Expected
UPDATE - More from the University of Michigan monthly report:
Final Results for July 2015
Jul | Jun | Jul | M-M | Y-Y | |
2015 | 2015 | 2014 | Change | Change | |
Index of Consumer Sentiment | 93.1 | 96.1 | 81.8 | -3.1% | +13.8% |
Current Economic Conditions | 107.2 | 108.9 | 97.4 | -1.6% | +10.1% |
Index of Consumer Expectations | 84.1 | 87.8 | 71.8 | -4.2% | +17.1% |
Next data release: August 14, 2015 for Preliminary August data at 10am ET
Surveys of Consumers chief economist, Richard Curtin
Consumer confidence slipped a bit in the July 2015 survey. A disappointing pace of economic growth was the main reason for the small decline in consumer confidence. Nonetheless, the data provide no indication of a break in the prevailing positive trend. Indeed, the Sentiment Index has averaged 94.5 since December 2014, the highest eight month average since 2004. Although one-in-ten consumers, when asked to identify any recent economic developments they had heard, referred negatively to Greece, the Chinese economy, and the Trans-Pacific Partnership on trade, it had virtually no impact on the Sentiment Index. The maintenance of confidence at high levels during the past eight months has been mainly due to modestly positive news on jobs and wages.
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