Consumer Sentiment Survey
Chart of the Week for May 22, 2015 - May 28, 2015
The University of Michigan Consumer Research Center conducts a monthly telephone survey of 500 consumers. Consumers are asked questions about personal finances, business conditions, and current "buying plans" as well as future expectations. The final index value is weighted 60% on expectations and 40% on current conditions. There are two releases each month, the preliminary release is based on approximately 60% of the monthly sample and the final release is based on the full sample. The chart above is based on the preliminary releases of each month for the last two years.
Consumers have access to a wealth of economic information (such as GDP, Employment, Interest Rates) as well as what they know about their own personal financial situations. In the 2013 downturn reflected on the chart above, consumers were more pessimistic about future conditions than current conditions. At the time, job growth was slowing and there was concern about the effect of the U.S. Federal Reserve's Quantitative Easing plan. Beginning in late 2014, hiring began to strengthen, gasoline prices were falling, and the sentiment reading began to improve, with the survey reaching an all time high in January 2015. The most recent reading from May showed a large drop in sentiment as consumers are again concerned about current and future conditions.
Posted by: sarah_oz@yahoo.com
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