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Category: Research - Topic: Economics - MICH CONSUMER CONFIDENCE


University of Michigan Consumer Confidence decreased in July to 81.2
Posted: July 30, 2021 at 10:00 AM (Friday)

Consumer sentiment fell in July, posting a monthly decline of 5.0% from June, falling to the lowest level since February, according to the University of Michigan Surveys of Consumers.

Nearly the entire July decline was among households with incomes above $100,000 (-8.1%), while sentiment among households with incomes below $100,000 posted only a modest decline (-1.1%), said U-M economist Richard Curtin, director of the surveys. ...


University of Michigan Consumer Confidence Preliminary July Results declined to 80.8
Posted: July 16, 2021 at 10:00 AM (Friday)

Consumer sentiment posted a monthly decline of 5.5% in early July, largely due to less favorable prospects for the national economy. This decline was caused by a misjudgement by consumers in the pace that the economy would recover as the pandemic eased. This involved both underestimating the economy's ability to reactivate supply lines and ...


University of Michigan Consumer Confidence increased in June to 85.5
Posted: June 25, 2021 at 10:00 AM (Friday)

Consumer sentiment rebounded in June to the second-highest level since the start of the pandemic, according to the University of Michigan Surveys of Consumers.

All of the June gain was among households with incomes above $100,000, and mainly in the way they judged the future economic outlook, said U-M economist Richard Curtin, director of the surveys. ...


University of Michigan Consumer Confidence Preliminary June Results Rose to 86.4
Posted: June 11, 2021 at 10:00 AM (Friday)

Consumer sentiment rose in early June, recouping two-thirds of May's loss. The early June gain was mainly among middle and upper income households and for future economic prospects rather than current conditions. Stronger growth in the national economy was anticipated, with an all-time record number of consumers anticipating a net decline ...


University of Michigan Consumer Confidence slipped in May to 82.9
Posted: May 28, 2021 at 10:00 AM (Friday)

A falloff in consumer confidence in May is due to surging inflation that consumers anticipate will persist in the year ahead, according to the University of Michigan Surveys of Consumers.

Record proportions of consumers reported higher prices across a wide range of discretionary purchases, including homes, vehicles and household durables. The impact of higher prices on discretionary spending will be offset by the more than $2 trillion increase in savings in ...


University of Michigan Consumer Confidence Preliminary May Results dipped to 82.8
Posted: May 14, 2021 at 10:00 AM (Friday)

Consumer confidence in early May tumbled due to higher inflation--the highest expected year-ahead inflation rate as well as the highest long term inflation rate in the past decade. Rising inflation also meant that real income expectations were the weakest in five years. The average of net price mentions for buying conditions for homes, ...


University of Michigan Consumer Confidence rose in April to 88.3
Posted: April 30, 2021 at 10:00 AM (Friday)

The April survey recorded continued gains in consumer confidence due to a growing sense that the upward momentum in jobs and incomes is likely to persist, according to the University of Michigan Surveys of Consumers.

The renewed confidence is due to record federal stimulus spending, both recent and proposed, as well as the positive impact from a growing share of the population who are vaccinated, said U-M economist Richard Curtin, director of the surveys. ...


University of Michigan Consumer Confidence Preliminary April Results rose to 86.5
Posted: April 16, 2021 at 10:00 AM (Friday)

Consumers in early April reported surging economic growth and strong job gains due to record stimulus spending, low interest rates, and the positive impact of vaccinations. The Sentiment Index rose to its best level in a year on the strength of recent gains in current economic conditions, while future economic prospects remained unchanged ...


University of Michigan Consumer Confidence rose in March to 84.9
Posted: March 26, 2021 at 10:00 AM (Friday)

Consumer sentiment rose in March, reaching its highest level in a year—mainly due to the third disbursement of relief checks and better-than-anticipated vaccination progress, according to the University of Michigan Surveys of Consumers.

As prospects for obtaining vaccination have grown, so too has people’s impatience with isolation, as those concerns were voiced by nearly one-third of consumers in March, the highest level in the past year, said U-M economist Richard Curtin, director of the surveys. ...


University of Michigan Consumer Confidence Preliminary March Results rose to 83
Posted: March 12, 2021 at 10:00 AM (Friday)

Consumer sentiment rose in early March to its highest level in a year due to the growing number of vaccinations as well as the widely anticipated passage of Biden's relief measures. The gains were widespread across all socioeconomic subgroups and all regions, although the largest monthly gains were concentrated among households in the bottom ...


University of Michigan Consumer Confidence was slightly lower in February to 76.2
Posted: February 26, 2021 at 10:00 AM (Friday)

Despite a small gain in late February, consumer sentiment was slightly lower for the entire month than in January. All of February's loss was due to households with incomes below $75,000, with the declines mainly concentrated in future economic prospects. The worst of the pandemic may be nearing its end, but few consumers anticipate the type ...


University of Michigan Consumer Confidence Preliminary February Results edged downward to 76.2
Posted: February 12, 2021 at 10:00 PM (Friday)

Consumer sentiment edged downward in early February, with the entire loss concentrated in the Expectation Index and among households with incomes below $75,000. Households with incomes in the bottom third reported significant setbacks in their current finances, with fewer of these households mentioning recent income gains than anytime since ...


University of Michigan Consumer Confidence remained largely unchanged in January to 79
Posted: January 29, 2021 at 10:00 AM (Friday)

The Consumer Sentiment Index has shown only relatively small variations since the pandemic started, averaging 81.5 in 2020, marginally above January’s 79.0. Needless to say, Sentiment levels were well below the average of 97.0 from 2017 to 2019, according to the University of Michigan Surveys ...


University of Michigan Consumer Confidence Preliminary January Results dipped to 79.2
Posted: January 15, 2021 at 10:00 AM (Friday)

Consumer sentiment posted trivial declines in early January despite the horrendous rise in covid-19 deaths, the insurrection, and the impeachment of Trump. Two offsetting shifts helped narrow the January loss in sentiment: the covid-19 vaccines and a partisan shift in expectations due to the anticipated impact of Biden's economic ...


University of Michigan Consumer Confidence improved in December to 80.7
Posted: December 23, 2020 at 10:00 AM (Wednesday)

Consumer sentiment improved in the December 2020 survey despite the ongoing surge in covid infections and deaths, according to the University of Michigan Surveys of Consumers.

The improvement was due to Democrats becoming much more positive and Republicans much more negative about long-term prospects for the national economy, said U-M economist Richard Curtin, director of the surveys. ...


University of Michigan Consumer Confidence Preliminary December Results increase to 81.4
Posted: December 11, 2020 at 10:00 AM (Friday)

Consumer sentiment posted a surprising increase in early December due to a partisan shift in economic prospects. Following Biden's election, Democrats became much more optimistic, and Republicans much more pessimistic, the opposite of the partisan shift that occurred when Trump was elected. In the five months from August to December, ...


University of Michigan Consumer Confidence fell in November to 76.9
Posted: November 25, 2020 at 10:00 AM (Wednesday)

Consumer sentiment fell in November due to a sharp decline in economic prospects, according to the University of Michigan Surveys of Consumers.

The decline was due to the current and expected resurgence in the COVID-19 virus as well as shifts in expectations following the outcome of the presidential election, said U-M economist Richard Curtin, director of the surveys. ...


University of Michigan Consumer Confidence Preliminary November Results fell to 77.0
Posted: November 13, 2020 at 10:00 AM (Friday)

Consumer sentiment fell in early November as consumers judged future economic prospects less favorably, while their assessments of current economic conditions remained largely unchanged. The outcome of the presidential election as well as the resurgence in covid infections and deaths were responsible for the early November decline. ...


University of Michigan Consumer Confidence rose in October to 81.8
Posted: October 30, 2020 at 10:00 AM (Friday)

Consumer sentiment has remained largely unchanged in the past month with gains prospects for the overall economy offset by declines in buying attitudes, according to the University of Michigan Surveys of Consumers.

The expected improvements in the economy were largely driven by those who expected Joe Biden to win, while the declines in buying attitudes were due to uncertain prospects for jobs and incomes due to the resurgence in COVID infection and death rates, said U-M economist ...


University of Michigan Consumer Confidence Preliminary October Results rose to 81.2
Posted: October 16, 2020 at 10:00 AM (Friday)

Slowing employment growth, the resurgence in covid-19 infections, and the absence of additional federal relief payments, prompted consumers to become more concerned about the current economic conditions. Those concerns were largely offset by continued small gains in economic prospects for the year ahead. The Current Conditions Index recorded ...


University of Michigan Consumer Confidence rose in September to 80.4
Posted: October 2, 2020 at 10:00 AM (Friday)

Consumer sentiment continued to improve in late September, with the Sentiment Index reaching its highest level in six months, according to the University of Michigan Surveys of Consumers.

It should be noted that the interviewing period ended prior to the presidential debate, said U-M economist Richard Curtin, director of the surveys. ...


University of Michigan Consumer Confidence Preliminary September Results rose to 78.9
Posted: September 18, 2020 at 10:00 AM (Friday)

Consumer sentiment improved in early September, reaching the top of the range it has traveled since April. While the recent gain was consistent with an unchanged flat trend, the data indicated that the election has begun to have an impact on expectations about future economic prospects. The Michigan surveys have traditionally asked consumers ...


University of Michigan Consumer Confidence rose in August to 74.1
Posted: August 28, 2020 at 10:00 AM (Friday)

Consumer sentiment has remained trendless in the same depressed range it has traveled in the past five months, according to the University of Michigan Surveys of Consumers.

The August figure posted an insignificant gain of just +0.4 Index points above the April to July average, said U-M economist Richard Curtin, director of the surveys. The small August gain reflected fewer concerns about the year-ahead outlook for the economy, although those ...


University of Michigan Consumer Confidence Preliminary August Results largely unchanged to 72.8
Posted: August 14, 2020 at 10:00 AM (Friday)

Consumer sentiment remained largely unchanged in early August from the July reading (+0.3 points) or the April low (+1.0). Two significant changes since April have been that consumers have become more pessimistic about the five-year economic outlook (-18 points) and more optimistic about buying conditions (+21). Lower interest rates by the ...


University of Michigan Consumer Confidence sank in July to 72.5
Posted: July 31, 2020 at 10:00 AM (Friday)

Consumer sentiment sank further in late July due to the continued resurgence of the coronavirus, according to the University of Michigan Surveys of Consumers.

In the last four months, the Sentiment Index has remained trendless, averaging a decline of 25% from the same period in 2019. The Expectations Index fell back to a six-year low first recorded in May, providing no indication that consumers expect the recession to end anytime ...


University of Michigan Consumer Confidence Preliminary July Results decreased to 73.2
Posted: July 17, 2020 at 10:00 AM (Friday)

Consumer sentiment retreated in the first half of July due to the widespread resurgence of the coronavirus. The promising gain recorded in June was reversed, leaving the Sentiment Index in early July insignificantly above the April low (+1.4 points). Following the steepest two-month decline on record, it is not surprising that consumers need ...


University of Michigan Consumer Confidence rose in June to 78.1
Posted: June 26, 2020 at 10:00 AM (Friday)

Consumer confidence rose moderately in June along with the reopening of the economy in several parts of the country, according to the University of Michigan Surveys of Consumers.

Compared with the shutdown in April, consumers thought current economic conditions had improved but have only partially offset the steep declines due to the pandemic. Not surprisingly, many consumers thought the economy could only improve from its virtual standstill in ...


University of Michigan Consumer Confidence Preliminary June Results increased to 78.9
Posted: June 12, 2020 at 10:00 AM (Friday)

Consumer sentiment posted its second monthly gain in early June, paced by gains in the outlook for personal finances and more favorable prospects for the national economy due to the reopening of the economy. The turnaround is largely due to renewed gains in employment, with more consumers expecting declines in the jobless rate than at any ...


University of Michigan Consumer Confidence largely unchanged in May to 72.3
Posted: May 29, 2020 at 10:00 AM (Friday)

Following April’s record one-month decline, consumer confidence inched upward in May by an insignificant amount, according to the University of Michigan Surveys of Consumers.

The Sentiment Index fell 27.7% below last May’s level, with the falloff in evaluations of current conditions and future prospects posting declines of 25%-30%. The CARES relief checks and higher unemployment payments have helped to stem economic hardship, but those programs ...


University of Michigan Consumer Confidence Preliminary May Results inched upward to 73.7
Posted: May 15, 2020 at 10:00 AM (Friday)

Confidence inched upward in early May as the CARES relief checks improved consumers' finances and widespread price discounting boosted their buying attitudes. Despite these gains, personal financial prospects for the year ahead continued to weaken, falling to the lowest level in almost six years, with declines especially sharp among upper ...


University of Michigan Consumer Confidence dropped in April to 71.9
Posted: April 24, 2020 at 10:00 AM (Friday)

Consumer sentiment tumbled 17.3 index points in April, the largest one-month decline in nearly a half century, according to the University of Michigan Surveys of Consumers.

A two-month decline of 29.2 points was also the largest consecutive monthly decline ever recorded. ...


University of Michigan Consumer Confidence Preliminary March Results fell to 71.0
Posted: April 9, 2020 at 10:00 AM (Thursday)

Consumer sentiment plunged 18.1 Index-points in early April, the largest monthly decline ever recorded. When combined with last month's decline, the two-month drop of 30.0 Index-points was 50% larger than the prior record. Of the two Index components, the Current Conditions Index plunged by 31.3 Index-points, nearly twice the prior record ...


University of Michigan Consumer Confidence dropped in March to 89.1
Posted: March 27, 2020 at 10:00 AM (Friday)

Consumer sentiment dropped 11.9 Index-points in March, the fourth largest one-month decline in nearly a half century. The steepest monthly decline was barely larger at -12.7 Index-points in response to the deepening recession in October 2008, and there were two declines of 12.2 points in response to the 1980 recession and Hurricane Katrina ...


University of Michigan Consumer Confidence Preliminary March Results fell to 95.9
Posted: March 13, 2020 at 10:00 AM (Friday)

Consumer sentiment fell in early March due to the spreading coronavirus and the steep declines in stock prices. Importantly, the initial response to the pandemic has not generated the type of economic panic among consumers that was present in the runup to the Great Recession. Nonetheless, the data suggest that additional declines in confidence ...


University of Michigan Consumer Confidence increased in February to 101.0
Posted: February 28, 2020 at 10:00 AM (Friday)

Consumer sentiment rose to 101.0 in February, nearly matching the expansion peak of 101.4 set in March 2018, according to the University of Michigan Surveys of Consumers.

The coronavirus was mentioned by 8% of all consumers in February when describing the reasons for their economic expectations. However, on Monday and Tuesday of this week—the last days of the February survey—20% mentioned the coronavirus due to the steep drop in equity ...


University of Michigan Consumer Confidence Preliminary February Results rose to 100.9
Posted: February 14, 2020 at 10:00 AM (Friday)

Consumer sentiment rose to 100.9 in early February to nearly match the expansion peak of 101.4, set two years ago in March 2018. The Expectations Index, the main gauge of future economic conditions, rose to 92.6, also its second highest level in this long expansion. Both measures were still significantly below the levels recorded twenty years ...


University of Michigan Consumer Confidence increased in January to 99.8
Posted: January 31, 2020 at 10:00 AM (Friday)

Consumer sentiment remained at very positive levels, with the January reading of 99.8 insignificantly below the cyclical peak of 101.4, according to the University of Michigan Surveys of Consumers.

The maintenance of consumer sentiment near cyclical peak levels is surprising given the overall slow pace of economic growth, which was accompanied in January by renewed military engagements in the Mideast, an impeachment trial in the Senate, and a fast spreading ...


University of Michigan Consumer Confidence Preliminary January Results virtually unch to 99.1
Posted: January 17, 2020 at 10:00 AM (Friday)

Consumer sentiment remained virtually unchanged in early January, differing by just 0.2 Index-points from December. This stability extended to all components, both current assessments as well as future economic prospects. Impeachment was barely mentioned--just by 1% of consumers. While those that mentioned impeachment were also somewhat ...


University of Michigan Consumer Confidence increased in December to 99.3
Posted: December 20, 2019 at 10:00 AM (Friday)

Consumer sentiment rose in the December 2019 survey to near the top of the favorable range it has traveled during the past three years, according to the University of Michigan Surveys of Consumers.

Since the start of 2017, the Sentiment Index has averaged 97.0. This was the second best extended period of optimism recorded in the long history of the surveys, said U-M economist Richard Curtin, director of the surveys. The most favorable average level was during the four ...


University of Michigan Consumer Confidence Preliminary December Results rose to 99.2
Posted: December 6, 2019 at 10:00 AM (Friday)

Consumer sentiment rose to the upper end of the favorable range it has traveled since the start of 2017. The Sentiment Index has averaged 97.0 in the past three years, the highest sustained level since the all-time record in the Clinton administration. Nearly all of the early December gain was among upper income households, who also reported ...


University of Michigan Consumer Confidence increased in November to 96.8
Posted: November 22, 2019 at 10:00 AM (Friday)

Consumer sentiment in the November 2019 survey was nearly identical to the average level recorded since the start of 2017 (96.8 versus 97), according to the University of Michigan Surveys of Consumers.

In 30 of the past 35 months, the Sentiment Index was 95 or higher, a level of optimism second only to when the index was above 100 for 34 out of 36 months from January 1998 to December 2000. ...


University of Michigan Consumer Confidence Preliminary November Results flat at 95.7
Posted: November 8, 2019 at 10:00 AM (Friday)

The early November reading on consumer sentiment was nearly identical to last month's and the average 2019 level (95.6). Consumers did voice a slightly more positive outlook for the economy, which was offset by a slightly less favorable outlook for their own personal finances. Spontaneous negative references to tariffs were still mentioned ...


University of Michigan Consumer Confidence increased in October to 95.6
Posted: October 25, 2019 at 10:00 AM (Friday)

Consumer sentiment remained at very favorable levels during October, according to the University of Michigan Surveys of Consumers.

The October level was nearly identical to the average during the first 10 months of 2019 (95.6) and only marginally below the average level since the start of 2017 (97.0). The recent focus of consumers has been on income and job growth, while largely ignoring other news, ...


University of Michigan Consumer Confidence Preliminary October Results rebound to 96.0
Posted: October 11, 2019 at 10:00 AM (Friday)

Sentiment rebounded in early October as consumers anticipated larger income gains and lower inflation during the year ahead. As a result, real income expectations rose to their most favorable level in two decades (see the chart). Stronger finances and lower interest rates helped to modestly bolster buying plans. These favorable trends did ...


University of Michigan Consumer Confidence increased in September to 93.8
Posted: September 27, 2019 at 10:00 AM (Friday)

Consumer sentiment improved in September from its depressed August reading due to more favorable income trends, especially among middle income households, according to the University of Michigan Surveys of Consumers.

The overall trends in confidence remain favorable, but have begun to slowly erode, said U-M economist Richard Curtin, director of the surveys. The Sentiment Index for the 3rd quarter of 2019 (93.8) was only slightly below the averages for the first half of 2019 (96.5) as ...


University of Michigan Consumer Confidence Preliminary August Results rebound to 92.0
Posted: September 13, 2019 at 10:00 AM (Friday)

Consumer sentiment posted a small rebound from the sharp August decline, marking the third lowest level since Trump's election. While the uptick was across both current and expected economic conditions, the early September rebound was not widespread across age or income subgroups as it only fell among consumers under age 45 and among ...


University of Michigan Consumer Confidence decreased in August to 89.8
Posted: August 30, 2019 at 10:00 AM (Friday)

The Consumer Sentiment Index posted its largest monthly decline in August 2019 (-8.6 points) since December 2012 (-9.8 points), according to the University of Michigan Surveys of Consumers.

The 2012 plunge reflected widespread fears among consumers that they would be pushed off the “fiscal cliff” due to rising taxes and falling government spending, said U-M economist Richard Curtin, director of the surveys. ...


University of Michigan Consumer Confidence Preliminary August Results declined to 92.1
Posted: August 16, 2019 at 10:00 AM (Friday)

Consumer sentiment declined in early August to its lowest level since the start of the year. The early August losses spanned all Index components. Although the Expectations Index recorded more than twice the decline in August as the Current Conditions Index (-8.2 versus -3.3), the Current Conditions Index fell to its lowest level since late ...


University of Michigan Consumer Confidence increased in July to 98.4
Posted: August 2, 2019 at 10:00 AM (Friday)

Consumer sentiment has been remarkably stable since the start of 2017, despite ongoing trade uncertainties, according to the University of Michigan Surveys of Consumers.

The resilience displayed has been primarily due to a renewed sense of personal financial optimism, said economist Richard Curtin, director of the surveys. Indeed, recent surveys have recorded the most favorable personal financial expectations since May 2003. ...


University of Michigan Consumer Confidence Preliminary July Results slightly higher to 98.4
Posted: July 19, 2019 at 11:00 AM (Friday)

Consumer sentiment remained largely unchanged in early July from June, remaining at quite favorable levels since the start of 2017. Moreover, the variations in Sentiment Index have been remarkably small, ranging from 91.2 to 101.4 in the past 30 months. Perhaps the most interesting change in the July survey was in inflation expectations, with ...



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