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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 7/27/07 For Jul 2007 | ||||||||||||
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Highlights
The final Reuters/University of Michigan consumer sentiment index for July eased back from the mid-month reading but still held well above June: at 90.4 July vs. 92.4 mid-month vs. 85.3 June. Turning just to the final July and June comparisons, expectations showed strong improvement to 81.5 vs. 74.7. This is the most important sub-component, one which often points to the future direction of overall sentiment. Current conditions, the second sub-component, showed moderate strength at 104.5 vs. 101.9.
Inflation expectations were stable, perhaps a surprise given high gasoline and food prices. One-year inflation expectations were unchanged at 3.4 percent though five-year expectations did rise, up 2 tenths to 3.1 percent.
There was no reaction to the data in the financial markets, but indications that consumer spirits remain solid may help to ease concern from soft consumer consumption data in today's second-quarter GDP report. The next report on the consumer will be Tuesday's confidence data from the Conference Board.
The Reuter's/University of Michigan's Consumer sentiment index firmed to 92.4 in the early July reading from 85.3 in June. Consumers have been getting mixed reports on factors more directly affecting sentiment. The jobs market remains tight and stocks have oscillated upward. High gasoline prices, however, remain a sticking point.
Consumer sentiment Consensus Forecast for final July 07: 91.0
Range: 89.0 to 94.0
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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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