U.S. Consumer Sentiment
Chart of the Week for August 25, 2017 - August 31, 2017
The University of Michigan Consumer Research Center conducts a monthly telephone survey of about 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 past 12 months.
The index rose 4.2 points in August 2017, which was the highest one-month gain so far this year. The August report was helped by an increase in consumer expectations, which rose 8.5 points to their highest level since January. More respondents reported an increase in their financial expectations in August, and economists noted an increase in average hourly earnings may have been a factor in those responses. The current economic conditions segment of the report weakened by 2.4 points to fall to its lowest level since November 2016. Economists noted that concerns over higher prices and fewer respondents reporting improved incomes, in contrast to the beliefs on the increase in average hourly earnings noted in the expectations survey, contributed to the decrease.
Posted by: sarah_oz@yahoo.com
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