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Category: Research - Topic: Economics - MICH CONSUMER CONFIDENCE


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 ...


University of Michigan Consumer Confidence Preliminary March Results declined to 59.7
Posted: March 11, 2022 at 10:00 AM (Friday)

Consumer Sentiment continued to decline due to falling inflation-adjusted incomes, recently accelerated by rising fuel prices as a result of the Russian invasion of Ukraine. 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 ...


University of Michigan Consumer Confidence fell in February 2022 to 62.8
Posted: February 25, 2022 at 10:00 AM (Friday)

Consumer sentiment fell in February to its lowest level in the past decade, according to the University of Michigan Surveys of Consumers.

Importantly, the loss was still entirely due to a 12.9% decline among households with incomes of $100,000 or more, a group that has a significant impact on consumer spending, said U-M economist Richard Curtin, director of the surveys. ...


University of Michigan Consumer Confidence Preliminary February Results fell to 61.7
Posted: February 11, 2022 at 10:00 AM (Friday)

Sentiment continued its downward descent, reaching its worst level in a decade, falling a stunning 8.2% from last month and 19.7% from last February. The recent declines have been driven by weakening personal financial prospects, largely due to rising inflation, less confidence in the government's economic policies, and the least favorable ...


University of Michigan Consumer Confidence fell in January 2022 to 67.2
Posted: January 28, 2022 at 10:00 AM (Friday)

Consumer sentiment fell throughout January, posting a cumulative loss of 4.8%, sinking to its lowest level since November 2011, according to the University of Michigan Surveys of Consumers.

The Delta and Omicron variants were largely responsible, but other factors, some of which were initially triggered by COVID-19, have become independent forces shaping sentiment, said U-M economist Richard Curtin, director of the surveys. ...


University of Michigan Consumer Confidence Preliminary January Results fell to 67.4
Posted: January 14, 2022 at 10:00 AM (Friday)

Sentiment posted a small loss in early January (-2.5%), falling to the second lowest level in a decade, which was recorded in November (67.4). The Sentiment Index has averaged just 70.3 in the past six months, whereas in the first six months of 2021 it averaged 82.9. While the Delta and Omicron variants certainly contributed to this ...


University of Michigan Consumer Confidence improved in December to 70.6
Posted: December 23, 2021 at 10:00 AM (Thursday)

Although consumers were slightly more optimistic about economic conditions in the December survey, nearly all the data were collected prior to the rapid spread of Omicron in the U.S., according to the University of Michigan Surveys of Consumers.

While it is likely that confidence will decline in the month ahead, it is simply too early to judge the eventual impact of Omicron on prices, incomes and employment, said U-M economist Richard Curtin, director of the surveys. The most positive change recorded in December ...


University of Michigan Consumer Confidence Preliminary December Results rose to 70.4
Posted: December 10, 2021 at 10:00 AM (Friday)

Sentiment posted a small overall gain in early December (+4.5%), although it was still nearly identical to the average reading in the prior four months (70.6). The more interesting result was the large disparity between monthly gain among households with incomes in the lowest third (+23.6%) of the income distribution compared with the ...


University of Michigan Consumer Confidence declined in November to 67.4
Posted: November 24, 2021 at 10:00 AM (Wednesday)

Consumers expressed less optimism than any other time in the past decade, including more negative prospects for their own finances as well as for the overall economy, according to the University of Michigan Surveys of Consumers.

The decline was due to rapidly escalating inflation combined with the absence of federal policies that would effectively curb a surging inflation rate, said U-M economist Richard Curtin, director of the surveys. While pandemic induced supply-line shortages were the ...


University of Michigan Consumer Confidence Preliminary November Results fell to 66.8
Posted: November 12, 2021 at 10:00 AM (Friday)

Consumer sentiment fell in early November to its lowest level in a decade due to an escalating inflation rate and the growing belief among consumers that no effective policies have yet been developed to reduce the damage from surging inflation. One-in-four consumers cited inflationary reductions in their living standards in November, with ...


University of Michigan Consumer Confidence virtually unchanged in October to 71.7
Posted: October 29, 2021 at 10:00 AM (Friday)

Consumer sentiment has remained virtually unchanged in the past three months, at levels comparable to the pandemic low point in April 2020, according to the University of Michigan Surveys of Consumers.

The positive impact of higher income expectations and the receding coronavirus has been offset by higher rates of inflation and falling confidence in government economic policies, said U-M economist Richard Curtin, director of the surveys. ...


University of Michigan Consumer Confidence Preliminary October Results dipped to 71.4
Posted: October 15, 2021 at 10:00 AM (Friday)

Consumer sentiment has remained for the past three months at the lows first recorded in response to last year's shutdown of the economy. The Delta variant, supply chain shortages, and reduced labor force participation rates will continue to dim the pace of consumer spending into 2022. There is another, less tangible factor that has contributed ...


University of Michigan Consumer Confidence increased in September to 72.8
Posted: October 1, 2021 at 10:00 AM (Friday)

Although consumer sentiment edged upward in September, the overall gain still meant the continuation of depressed optimism, according to the University of Michigan Surveys of Consumers.

The relapse in consumer confidence was initially sparked by the Delta variant and supported by an upsurge in inflation and unfavorable long-term prospects for the economy, said U-M economist Richard Curtin, director of the surveys. ...


University of Michigan Consumer Confidence Preliminary September Results rose to 71.0
Posted: September 17, 2021 at 10:00 AM (Friday)

The steep August falloff in consumer sentiment ended in early September, but the small gain still meant that consumers expected the least favorable economic prospects in more than a decade. Just two components posted additional declines: buying attitudes for household durables fell again in early September to a low reached only once before ...


University of Michigan Consumer Confidence decreased in August to 70.3
Posted: August 27, 2021 at 10:00 AM (Friday)

Consumer sentiment fell in August by 13.4% from July, recording the least favorable economic prospects in more than a decade, according to the University of Michigan Surveys of Consumers.

The Sentiment Index has only recorded larger losses in six other monthly surveys since 1978, with the largest losses in how consumers viewed future economic prospects, said U-M economist Richard Curtin, director of the surveys. The losses were widespread across all ...


University of Michigan Consumer Confidence Preliminary August Results declined to 70.2
Posted: August 13, 2021 at 10:00 AM (Friday)

Consumers reported a stunning loss of confidence in the first half of August. The Consumer Sentiment Index fell by 13.5% from July, to a level that was just below the April 2020 low of 71.8. Over the past half century, the Sentiment Index has only recorded larger losses in six other surveys, all connected to sudden negative changes in the ...


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 ...



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