Keeping you up to date on the latest data releases.
- Consumer Sentiment
The University of Michigan’s Index of Consumer Sentiment rose to an index value of 74.5 in late December, its highest level since June and second highest sentiment reading on the year. The current conditions component improved to 85.3, 3.1 points above November’s reading. The expectations component also increased, from 64.8 in November to 67.5 in December. The release suggested that some of the increase in sentiment was due to news on the tax cuts. One-year-ahead average inflation expectations ticked up 0.2 percentage point to 3.9 percent in December (though the median expectation was unchanged at 3.0 percent). Longer-term (five-to-10 year-ahead) average expectations edged up from 3.2 percent to 3.3 percent, though the median expectation remained at 2.8 percent.