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Category: Research - Topic: Economics - MICH CONSUMER CONFIDENCE


University of Michigan Consumer Confidence Preliminary July 2024 Results down to 66.0
Posted: July 12, 2024 at 10:00 AM (Friday)

For the second straight month, consumer sentiment is essentially unchanged. July's reading was a statistically insignificant 2 index points below last month, well within the margin of error. Although sentiment is more than 30% above the trough from June 2022, it remains stubbornly subdued. Nearly half of consumers still object to the impact ...


University of Michigan Consumer Confidence June 2024 Results down to 68.2
Posted: June 28, 2024 at 10:00 AM (Friday)

Sentiment was essentially unchanged this month, inching down a scant 1% from May, according to the University of Michigan Surveys of Consumers.

While consumers exhibited confidence that inflation will continue to soften, many expressed concerns about the effect of high prices and weakening incomes on their personal finance, said U-M economist Joanne Hsu, director of the Surveys of Consumers. These developments ...


University of Michigan Consumer Confidence Preliminary June 2024 Results down to 65.6
Posted: June 14, 2024 at 10:00 AM (Friday)

Consumer sentiment was little changed in June; this month’s reading was a statistically insignificant 3.5 index points below May and within the margin of error. Sentiment is currently about 31% above the trough seen in June 2022 amid the escalation in inflation. Assessments of personal finances dipped, due to modestly rising concerns over ...


University of Michigan Consumer Confidence May 2024 Results down to 66.9
Posted: May 24, 2024 at 10:00 AM (Friday)

Sentiment fell back about 10% in May, a departure from three consecutive months of very little change in consumer views, according to the University of Michigan Surveys of Consumers.

Although consumers’ views about their personal finances were little changed this month, their outlook for short-run business conditions declined notably in May, said U-M economist Joanne Hsu, director of the Surveys of Consumers. ...


University of Michigan Consumer Confidence Preliminary May 2024 Results down to 67.4
Posted: May 10, 2024 at 10:00 AM (Friday)

Consumer sentiment retreated about 13% this May following three consecutive months of very little change. This 10 index-point decline is statistically significant and brings sentiment to its lowest reading in about six months. This month’s trend in sentiment is characterized by a broad consensus across consumers, with decreases across age, ...


University of Michigan Consumer Confidence April 2024 Results down to 77.2
Posted: April 26, 2024 at 10:00 AM (Friday)

Sentiment has remained essentially unchanged since January 2024, continuing the plateau that followed the large gains seen at the end of 2023, according to the University of Michigan Surveys of Consumers.

The long-run business outlook lifted slightly to reach its highest reading since June 2021, while views of personal finances softened amid renewed discontent with high prices, said U-M economist Joanne Hsu, director of the Surveys of Consumers. Overall, consumers perceived ...


University of Michigan Consumer Confidence Preliminary April 2024 Results down to 77.9
Posted: April 12, 2024 at 10:00 AM (Friday)

Sentiment moved sideways for the fourth straight month, as consumers perceived few meaningful developments in the economy. Since January, sentiment has remained remarkably steady within a very narrow 2.5 index point range, well under the 5 points necessary for a statistically significant difference in readings. Consumers perceived little change ...


University of Michigan Consumer Confidence March 2024 Results up to 79.4
Posted: March 28, 2024 at 10:00 AM (Thursday)

Sentiment remained essentially unchanged since January 2024, solidifying the large gains from December and January, according to the University of Michigan Surveys of Consumers.

Consumers exhibited confidence that inflation will continue to soften, said U-M economist Joanne Hsu, director of the Surveys of Consumers. Assessments and expectations of personal finances improved modestly from last month, as the perceived negative effects of high prices ...


University of Michigan Consumer Confidence Preliminary March 2024 Results up to 76.5
Posted: March 15, 2024 at 10:00 AM (Friday)

Consumer sentiment moved little this month with a 0.4 index point decrease that is well within the margin of error, and thus sentiment has been steady and essentially unchanged since January 2024. Sentiment remained almost 25% above November 2023 and is currently halfway between the historic low reached during the peak of inflation in June ...


University of Michigan Consumer Confidence fell in February 2024 to 76.9
Posted: March 1, 2024 at 10:00 AM (Friday)

Consumer sentiment was virtually unchanged in February, slipping just two index points and solidifying the large gains from December and January, according to the University of Michigan Surveys of Consumers.

Consumers continue to express more confidence about the economy than they did last fall, confirming the considerable improvements in December and January across various aspects of the economy, said U-M economist Joanne Hsu, director of the Surveys of Consumers. ...


University of Michigan Consumer Confidence rose in January 2024 to 79.0
Posted: February 2, 2024 at 10:00 AM (Friday)

Consumer sentiment soared 13% in January to reach its highest level since July 2021—continuing the sharp increase seen in December—primarily on the basis of an improving outlook over inflation and personal incomes, according to the University of Michigan Surveys ...


University of Michigan Consumer Confidence rose in December 2023 to 69.7
Posted: December 22, 2023 at 10:00 AM (Friday)

Consumer sentiment soared 14% in December, reversing four consecutive months of declines and reaching its highest reading since July, according to the University of Michigan Surveys of Consumers.

These trends are rooted in sharp improvements in how consumers view the trajectory of inflation, said U-M economist Joanne Hsu, director of the Surveys of Consumers. ...


University of Michigan Consumer Confidence Preliminary December 2023 Results up to 69.4
Posted: December 8, 2023 at 10:00 AM (Friday)

Consumer sentiment soared 13% in December, erasing all declines from the previous four months, primarily on the basis of improvements in the expected trajectory of inflation. Sentiment is now about 39% above the all-time low measured in June of 2022 but still well below pre-pandemic levels. All five index components rose this month, led by ...


University of Michigan Consumer Confidence fell in November 2023 to 61.3
Posted: November 22, 2023 at 10:00 AM (Wednesday)

Consumer sentiment fell back a modest 2.5 index points, or 4%, in November, extending what is now a four-month stretch of consecutive declines, according to the University of Michigan Surveys of Consumers.

While consumers’ views of their personal finances improved, their economic outlook deteriorated, due in part to growing concerns about high interest rates, ongoing wars in Gaza and Ukraine, and election uncertainty, according to chief economist Joanne Hsu, director of the ...


University of Michigan Consumer Confidence Preliminary November 2023 Results down to 60.4
Posted: November 10, 2023 at 10:00 AM (Friday)

Consumer sentiment slipped for the fourth straight month, falling 5% in November. While current and expected personal finances both improved modestly this month, the long-run economic outlook slid 12%, in part due to growing concerns about the negative effects of high interest rates. Ongoing wars in Gaza and Ukraine weighed on many consumers ...


University of Michigan Consumer Confidence fell in October 2023 to 63.8
Posted: October 27, 2023 at 10:00 AM (Friday)

Consumer sentiment fell back about 6% this October after inching down slightly for two consecutive months, according to the University of Michigan Surveys of Consumers.

One-year expected business conditions plunged 16% and expectations over consumers’ own personal finances in the year ahead fell 8%, reflecting ongoing concerns about inflation and, to a lesser degree, uncertainty over the implications of negative news both domestically and ...


University of Michigan Consumer Confidence Preliminary October 2023 Results down to 63.0
Posted: October 13, 2023 at 10:00 AM (Friday)

Consumer sentiment fell back about 7% this October following two consecutive months of very little change. Assessments of personal finances declined about 15%, primarily on a substantial increase in concerns over inflation, and one-year expected business conditions plunged about 19%. However, long-run expected business conditions are ...


University of Michigan Consumer Confidence decreased in September 2023 to 68.1
Posted: September 29, 2023 at 10:00 AM (Friday)

Consumer sentiment was little changed in September, inching down a mere 1.4 index points from August, according to the University of Michigan Surveys of Consumers.

Sentiment has been essentially flat for the past three months, following two months with leaps in sentiment stemming from the substantial slowdown in inflation seen earlier this summer, says chief economist Joanne Hsu, director of the surveys. While consumers recognize the ...


University of Michigan Consumer Confidence Preliminary September 2023 Results down to 67.7
Posted: September 15, 2023 at 10:00 AM (Friday)

Consumer sentiment inched down a scant 1.8 index points this month and has been essentially flat for the past two months. At 67.7 points, sentiment is currently about 35% above the all-time historic low reached in June of 2022 but remains shy of the historical average reading of 86. Sentiment this month was characterized by divergent ...


University of Michigan Consumer Confidence decreased in August 2023 to 69.5
Posted: August 25, 2023 at 10:00 AM (Friday)

Consumer sentiment was relatively unchanged in August and ended the month with its second-highest reading in 21 months, according to the University of Michigan Surveys of Consumers.

This follows two months of large jumps in sentiment resulting from the substantial slowdown in inflation and ongoing strength in labor markets. Overall, consumers remain supported by strong income expectations, but they perceive few meaningful improvements in August ...


University of Michigan Consumer Confidence Preliminary August 2023 Results increase to 71.2
Posted: August 11, 2023 at 10:00 AM (Friday)

Consumer sentiment was essentially unchanged from July, with small offsetting increases and decreases within the index. At 71.2 index points, sentiment is now about 42% above the all-time historic low reached in June of 2022 and is approaching the historical average reading of 86. In general, consumers perceived few material differences in ...


University of Michigan Consumer Confidence increased in July 2023 to 71.6
Posted: July 28, 2023 at 10:00 AM (Friday)

Consumer sentiment lifted 11% in June, reaching its highest level since October 2021, a sign of greater optimism as inflation continued to ease and stock market performance strengthened.

Sentiment is now about halfway between the all-time historic low of 50 from June 2022 and the February 2020 pre-pandemic reading of 101, a reflection of the material improvement in the economic experiences of consumers relative to the peak of high inflation last year, ...


University of Michigan Consumer Confidence Preliminary July 2023 Results increase to 72.6
Posted: July 14, 2023 at 10:00 AM (Friday)

Consumer sentiment rose for the second straight month, soaring 13% above June and reaching its most favorable reading since September 2021. All components of the index improved considerably, led by a 19% surge in long-term business conditions and 16% increase in short-run business conditions. Overall, sentiment climbed for all demographic ...


University of Michigan Consumer Confidence edged up in April 2023 to 63.5
Posted: April 28, 2023 at 10:00 AM (Friday)

Consumer sentiment was essentially unchanged this month, edging up less than two index points from March, according to the University of Michigan Surveys of Consumers.

Sentiment is now about 3% below a year ago but 27% above the all-time low from last June. Sentiment rose for lower-income consumers, offsetting declines among those with higher incomes. Buying conditions for durables surged 11% due to improvements in affordability, said U-M ...


University of Michigan Consumer Confidence Preliminary April 2023 Results inching up to 63.5
Posted: April 14, 2023 at 10:00 AM (Friday)

Consumer sentiment was essentially unchanged this month, inching up less than two index points from March. Sentiment is now about 3% below a year ago but 27% above the all-time low from last June. Rising sentiment for lower-income consumers was offset by declines among those with higher incomes. While consumers have noted the easing of ...


University of Michigan Consumer Confidence fell in March 2023 to 62.0
Posted: March 31, 2023 at 10:00 AM (Friday)

Consumer sentiment fell for the first time in four months in the wake of a 13% decline in consumers’ outlook over the economy for the year ahead, according to the University of Michigan Surveys of Consumers.

Declines in sentiment were visible across age, education and income. Due to continued pressure from high prices, consumer sentiment experienced downward momentum prior to the collapse of Silicon Valley Bank and the financial turbulence that ensued. Still, consumer attitudes ...


University of Michigan Consumer Confidence Preliminary March 2023 Results fell to 63.4
Posted: March 17, 2023 at 10:00 AM (Friday)

Consumer sentiment fell for the first time in four months, sitting about 5% below February but remaining 7% above a year ago. This month’s decrease was already fully realized prior to the failure of Silicon Valley Bank, at which time about 85% of our interviews for this preliminary release had been completed. Sentiment declines were ...


University of Michigan Consumer Confidence rose in February 2023 to 67.0
Posted: February 24, 2023 at 10:00 AM (Friday)

Consumer sentiment lifted for the third straight month in February, rising a modest 3% above January, supported by a 12% improvement in consumers’ outlook over the economy for the year ahead, according to the University of Michigan Surveys of Consumers.

However, sentiment remains well below its historical average; in spite of the recent slowdown in inflation, overall prices are still painfully high for consumers and continue to be at the forefront of their minds, said U-M economist Joanne Hsu, director of the surveys. ...


University of Michigan Consumer Confidence Preliminary February 2023 Results rose to 66.4
Posted: February 10, 2023 at 10:00 AM (Friday)

Consumer sentiment was essentially unchanged at 1.5 index points above January. Recent developments in the economy, both positive and negative, have led to mixed attitudes among consumers with little net change in February. After three consecutive months of increases, sentiment is now 6% above a year ago but still 14% below two years ago, prior ...


University of Michigan Consumer Confidence rose in January 2023 to 64.9
Posted: January 27, 2023 at 10:00 AM (Friday)

Consumer sentiment lifted for the second straight month in January, rising 9% above December but remaining about 3% below a year ago, according to the University of Michigan Surveys of Consumers.

Easing inflation and strong incomes provided welcome support to the personal finances of American consumers and buoyed their views of current economic conditions, said U-M economist Joanne Hsu, director of the surveys. ...


University of Michigan Consumer Confidence Preliminary January 2023 Results rose to 64.6
Posted: January 13, 2023 at 10:00 AM (Friday)

Consumer sentiment remained low from a historical perspective but continued lifting for the second consecutive month, rising 8% above December and reaching about 4% below a year ago. Current assessments of personal finances surged 16% to its highest reading in eight months on the basis of higher incomes and easing inflation. Although the ...


University of Michigan Consumer Confidence rose in December 2022 to 59.7
Posted: December 23, 2022 at 10:00 AM (Friday)

Consumer sentiment rose 5%, recovering the declines from November, according to the University of Michigan Surveys of Consumers.

Sentiment remains relatively downbeat, however—remaining 15% below a year ago—but consumers’ extremely negative attitudes have softened this month over easing pressures from inflation, said U-M economist Joanne Hsu, director of the surveys. ...


University of Michigan Consumer Confidence Preliminary December Results rose to 59.1
Posted: December 9, 2022 at 10:00 AM (Friday)

Consumer sentiment rose 4% above November, recovering most of the losses from November but remaining low from a historical perspective. All components of the index lifted, with one-year business conditions surging 14% and long-term business conditions increasing a more modest 6%. Gains in the sentiment index were seen across multiple ...


University of Michigan Consumer Confidence fell in November 2022 to 56.8
Posted: November 23, 2022 at 10:00 AM (Wednesday)

Consumer sentiment declined 5% below October, eroding about one-third of the overall gain seen since the historic low in June, according to the University of Michigan Surveys of Consumers.

Buying conditions for durables, which had markedly improved last month, decreased most sharply in November, falling back 19% on the basis of high interest rates as well as continued high prices, said U-M economist Joanne Hsu, director of the surveys. Long-term business ...


University of Michigan Consumer Confidence Preliminary November Results fell to 54.7
Posted: November 11, 2022 at 10:00 AM (Friday)

Consumer sentiment fell about 9% below October, erasing about half of the gains that had been recorded since the historic low in June. All components of the index declined from last month, but buying conditions for durables, which had markedly improved last month, decreased most sharply in November, falling back 21% on the basis of high ...


University of Michigan Consumer Confidence rose in October 2022 to 59.9
Posted: October 28, 2022 at 10:00 AM (Friday)

Consumer sentiment was essentially unchanged in October, inching up just 1.3 index points above September.

Following the notable improvement in August, sentiment remained low by historic standards as consumers continued to voice concerns about inflation. Buying conditions for durables surged 23% on the basis of easing prices and supply constraints. However, year-ahead expected ...


University of Michigan Consumer Confidence Preliminary October Results up to 59.8
Posted: October 14, 2022 at 10:00 AM (Friday)

Consumer sentiment is essentially unchanged at 1.2 index points above September, in spite of a 23% improvement in current buying conditions for durables owing to an easing in supply constraints. Sentiment is now 9.8 points above the all-time low reached in June, but this improvement remains tentative, as the expectations index declined by 3% ...


University of Michigan Consumer Confidence rose in September 2022 to 58.6
Posted: September 30, 2022 at 10:00 AM (Friday)

Consumer sentiment was essentially unchanged in September, just 0.4 index points above August, according to the University of Michigan Surveys of Consumers.

The one-year economic outlook continued lifting from the extremely low readings earlier in the summer, but these gains were largely offset by modest declines in the long-run outlook, said U-M economist Joanne Hsu, director of the surveys. ...


University of Michigan Consumer Confidence Preliminary September Results rose to 59.5
Posted: September 16, 2022 at 10:00 AM (Friday)

Consumer sentiment was essentially unchanged in September, just 1.3 index points above August. The one-year economic outlook continued lifting from the extremely low readings earlier in the summer, but these gains were largely offset by modest declines in the long run outlook. Personal finance components of the index as well as buying ...


University of Michigan Consumer Confidence rose in August 2022 to 58.2
Posted: August 26, 2022 at 10:00 AM (Friday)

Consumer sentiment rose by 13% in August, lifting off of the all-time low reading for the survey reached in June but remaining 17% below a year ago, according to the University of Michigan Surveys of Consumers.

The gains in sentiment were seen across age, education, income, region and political affiliation, and can be attributed to the recent deceleration in inflation. Most of this increase was concentrated in expectations, led by a 59% surge in the year-ahead outlook for the ...


University of Michigan Consumer Confidence Preliminary August Results rose to 55.1
Posted: August 12, 2022 at 10:00 AM (Friday)

Consumer sentiment moved up very slightly this month to about 5 index points above the all-time low reached in June. All components of the expectations index improved this month, particularly among low and middle income consumers for whom inflation is particularly salient. The year-ahead economic outlook rose substantially to just above ...


University of Michigan Consumer Confidence rose in July 2022 to 51.5
Posted: July 29, 2022 at 10:00 AM (Friday)

Consumer sentiment was essentially unchanged from June, when it had reached an all-time low for the survey, according to the University of Michigan Surveys of Consumers.

Most components of the index were little changed, though buying conditions for durables adjusted upwards, primarily due to perceptions of easing supply constraints. Still, buying conditions for durables remained 28% lower than July 2021, according to U-M economist Joanne ...


University of Michigan Consumer Confidence Preliminary July Results rose to 51.1
Posted: July 15, 2022 at 10:00 AM (Friday)

Consumer sentiment was relatively unchanged, remaining near all-time lows. Current assessments of personal finances continued to deteriorate, reaching its lowest point since 2011. Buying conditions for durables adjusted upwards, owing both to consumers who cited easing supply constraints and those who believed that one should buy now to ...


University of Michigan Consumer Confidence fell in June 2022 to 50.0
Posted: June 24, 2022 at 10:00 AM (Friday)

Consumer sentiment continued its downward trend, falling 14.4% in June, according to the University of Michigan Surveys of Consumers.

All components of the index fell this month, with the steepest declines in the year-ahead outlook for the economy, down 24% from May, and consumers’ assessments of their personal financial situation, which worsened about 20%, said U-M economist Joanne Hsu, director of the ...


University of Michigan Consumer Confidence Preliminary June Results fell to 50.2
Posted: June 10, 2022 at 10:00 AM (Friday)

Consumer sentiment declined by 14% from May, continuing a downward trend over the last year and reaching its lowest recorded value, comparable to the trough reached in the middle of the 1980 recession. All components of the sentiment index fell this month, with the steepest decline in the year-ahead outlook in business conditions, down 24% ...


University of Michigan Consumer Confidence fell in May 2022 to 58.4
Posted: May 27, 2022 at 10:00 AM (Friday)

After voicing more positive views in April, consumer sentiment fell 10.4% in May, reverting to levels comparable to two months ago, according to the University of Michigan Surveys of Consumers.

Most of this decline was concentrated in expectations for the economy, with the year-ahead outlook dropping 25.8% and the five-year outlook falling 14.3%, said U-M economist Joanne Hsu, director of the surveys. ...


University of Michigan Consumer Confidence Preliminary May Results dropped to 59.1
Posted: May 13, 2022 at 10:00 AM (Friday)

Consumer sentiment declined by 9.4% from April, reversing gains realized that month. These declines were broad based--for current economic conditions as well as consumer expectations, and visible across income, age, education, geography, and political affiliation--continuing the general downward trend in sentiment over the past year. ...


University of Michigan Consumer Confidence rose in April 2022 to 65.2
Posted: April 29, 2022 at 10:00 AM (Friday)

Consumers voiced much more positive views in April, rising 9.8% above March, according to the University of Michigan Surveys of Consumers.

Most of the surge was concentrated in expectations, with gains of 21.6% in the year-ahead outlook for the economy and an 18.3% jump in personal financial expectations, said U-M economist Richard Curtin, director of the surveys. ...


University of Michigan Consumer Confidence Preliminary April Results jumped to 65.7
Posted: April 14, 2022 at 10:00 AM (Thursday)

Consumer Sentiment jumped by a surprising 10.6% in early April, although it remained below January's reading and lower than in any prior month in the past decade. Nearly the entire gain was in the Expectations Index, which posted a monthly gain of 18.0%, including a leap of 29.4% in the year-ahead outlook for the economy and a 17.2% jump ...


University of Michigan Consumer Confidence dipped in March 2022 to 59.4
Posted: March 25, 2022 at 10:00 AM (Friday)

Consumer sentiment declined in March due to falling inflation-adjusted incomes, which was recently accelerated by rising fuel prices, according to the University of Michigan Surveys of Consumers.

The year-ahead expected inflation rate rose to its highest level since 1981 and expected gas prices posted their largest monthly upward surge in decades. Personal finances were expected to worsen in the year ahead by the largest proportion since the surveys started in the ...



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