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2008 Economic Calendar |
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Resource Center » U.S. & Intl Recaps | Release Dates | Why Investors Care | Today's Calendar
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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 3/2/07 For Feb 2007 | ||||||||||||
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Highlights
The University of Michigan's February consumer sentiment index fell to 91.3 vs. a mid-month reading of 93.3 and a January reading of 96.9. Inflation expectations were 3.0 percent, unchanged from the mid-month and final January readings.
Dips were posted for both current conditions and expectations, the latter pointing to softer readings ahead. Today's report contrasts with the Conference Board's report earlier in the week which showed rising strength though only flat readings on expectations.
Though consumer spending has been strong the past several months, the outlook for consumer confidence will turn on the jobs market -- and recent sharp gains in weekly jobless claims may point to trouble ahead. Treasuries firmed and the dollar dipped in initial reaction to the data.
The University of Michigan's consumer sentiment index slipped back to 93.3 in its mid-month reading, down from 96.9 in January. The expectations and current conditions segments of the index dipped by roughly the same amount. Inflation expectations were unchanged at 3.0 percent. Despite the dip, the 93.3 level is still among the very strongest readings since mid-2004. The labor market, which remains sound, is really the key for confidence.
Consumer sentiment Consensus Forecast for February 07: 93.3
Range: 91.0 to 95.0
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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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