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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 5/18/07 For May 2007 | ||||||||||||
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Highlights
The University of Michigan's consumer sentiment index firmed to 88.7 at mid-month, up from 87.1 for April. The rise is a bit of a surprise given high gas prices and recent weakness in the retail sector. Gains were centered in current conditions, perhaps a confirmation of the improvement in weekly jobless claims and an indication of current strength in the labor market. Unlike this report, the Conference Board's rival report at month end focuses specifically on employment sentiment. Treasuries eased slightly and the dollar firmed slightly in reaction to today's report, which may prove a plus for the stock market through the day.
The Reuters/University of Michigan's consumer sentiment index edged higher in mid-April to 89.2 from 88.9 in March. Current conditions rose to 111.1 from 109.1 but expectations fell to 75.1 from 76.0 in March. Consumer are seeing divergent trends - higher gasoline prices and higher stock prices among others - and these will certainly impact confidence.
Consumer sentiment Consensus Forecast for preliminary May 07: 87.0
Range: 85.5 to 88.0
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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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