Keeping you up to date on the latest data releases.
- Consumer Sentiment
The University of Michigan’s Index of Consumer Sentiment jumped up to an index level of 74.0 in early January, its first foray above 70 since June 2011. Sentiment has increased 18.3 points over of the past five months. Both the current conditions and consumer expectations components contributed to the overall increase. The current conditions component rose 3.0 points to 82.6 in January, and has risen roughly 14 points in the past five months. The expectations component, which rose by 21 points and is responsible for the bulk of the overall increase since August, increased from 63.6 in December to 68.4 in January. Median inflation expectations for both the shorter-run (one-year ahead) and longer-term (five-to-ten years ahead) ticked up for the first time since August. Shorter-run expectations rose 0.1 percentage point to 3.2 percent, while longer-term expectations edged up from 2.7 percent to 2.8 percent (but remain 0.1 percentage point below their average over the past 10 years).