Consumer confidence came in better than expected in the University of Michigan Survey of Consumers. The Index of Consumer Sentiment was 73.7 for May 2020, up 2.6% from April but down 26.3 percent from May 2019. According to Richard Curtin, Surveys of Consumers chief economist, confidence inched upward in early May as the CARES relief […]
U.S. Consumer Sentiment Dramatically Declined in Early April
Preliminary results in University of Michigan Survey record largest ever decline in wake of coronavirus crisis. The University of Michigan Consumer sentiment plunged 18.1 Index-points in early April, the largest monthly decline ever recorded. When combined with last month’s decline, the two-month drop of 30.0 Index-points was 50% larger than the prior record. Of the […]
Outlook for National Economy in Wake of COVID-19 Response Weighs on March Consumer Sentiment
Consumer sentiment tumbled 11.9 index points in March, the fourth-largest one-month decline in nearly a half century, according to the University of Michigan Surveys of Consumers. The University of Michigan Consumer Sentiment Index fell to 89.1 in the March 2020 survey, down from 101.0 in February and 98.4 in last March’s survey. The Expectations Index […]
Preliminary Consumer Sentiment Results for March 2020 Shows Slight Decline
University of Michigan preliminary results for March shows pandemic not generating consumer panic seen during 2008 financial crisis. According to the University of Michigan Survey preliminary results released this morning, consumer sentiment fell in early March due to the spreading coronavirus and the steep declines in stock prices. Importantly, the initial response to the pandemic […]
Consumer Sentiment Rose to Near Expansion Peak in February
University of Michigan Survey shows rise in consumer expectations in face of coronavirus concerns. Consumer sentiment rose to 101.0 in February, nearly matching the expansion peak of 101.4 set in March 2018, according to the University of Michigan Surveys of Consumers. The Consumer Sentiment Index rose to 101.0 in the February 2020 survey, just ahead […]
Consumer Sentiment Increased in January
Consumer views on the finances and the future remain near the cyclical peak. Consumer sentiment remained at very positive levels, with the January reading of 99.8 insignificantly below the cyclical peak of 101.4, according to the University of Michigan Surveys of Consumers. Consumer sentiment about the future is cited as one of the key factors […]
Consumer Sentiment Steady in January
Preliminary results show little change in consumer attitudes on the future of the economy. Expected household finances remain strong. Consumer sentiment remained virtually unchanged in early January at 99.1 down just 0.2 Index-points in the preliminary January release from the final December survey. According to the the University of Michigan, the stability extended to all […]
Consumers Remained Optimistic About Economic Prospects in December
Consumer sentiment rose in the December 2019 survey to near the top of the favorable range it has traveled during the past three years, according to the University of Michigan Surveys of Consumers. The Consumer Sentiment Index rose to 99.3 in December, posting its fourth monthly gain from the low of 89.8 in August. The […]
Consumer Confidence Continues to Propel Economy Forward
University of Michigan research sees consumer spending increasing in 2020. The Consumer Sentiment Index rose to 96.8 in November 2019, posting its third monthly increase, but remained slightly below last November’s 97.5. The Expectations Index rose slightly to 87.3 from last month’s 84.2 but remained below last year’s 88.1. The Current Conditions Index fell to […]
Consumer Sentiment Posts Largest Monthly Decline Since 2012 in August
University of Michigan survey indicates tariffs impact confidence as consumer finance expectations weaken. The Consumer Sentiment Index posted its largest monthly decline in August 2019 (-8.6 points) since December 2012 (-9.8 points), according to the University of Michigan Surveys of Consumers. The Consumer Sentiment Index was 89.8 in August 2019, well below July’s 98.4 and […]