Keeping you up to date on the latest data releases.
- Consumer Sentiment
The University of Michigan’s Index of Consumer Sentiment edged up in September, rising an index level of 59.4 from 55.7 in August. Still, the level of sentiment has fallen nearly 15 points over the past four months. Most of the recent decrease has come from the expectations component which, while it increased 2.0 points to 49.4 in August, has fallen 20 points in four months, and is sitting just 0.2 points above its June 2008 level. The current conditions component improved from 68.7 in July to 74.9 in August. Shorter-term median inflation expectations (one-year ahead) continued to drift lower, decreasing 0.1 percentage points to 3.3 percent in August, and are now down 1.3 percentage points from April’s recent high. Longer-term inflation expectations (five-years ahead) remained flat at 2.9 percent.