Keeping you up to date on the latest data releases.
- Consumer Sentiment
The University of Michigan’s Index of Consumer Sentiment was revised up from 72.7 to 74.2 in late January, roughly unchanged from its level in December (74.5) and, unfortunately, from its level in January 2010 (74.4). The current conditions component slipped from 85.3 in December to 81.8 currently, while the expectations component improved slightly—from 67.5 to 69.3 in January. Still, expectations are well below its series average of roughly 80. Median one-year-ahead inflation expectations jumped up from 3.0 percent to 3.4 percent in January, largely on rising oil prices (average one-year-ahead inflation expectations rose from 3.9 percent to 4.2 percent). Longer-term expectations remained anchored, with average expectations at 3.2 percent and the median expectation ticking up 0.1 percentage point to 2.9 percent.