Assesses consumer confidence regarding personal finances, business conditions and purchasing power based on hundreds of telephone surveys. Especially valued for its quick turnaround, the University of Michigan Confidence survey is considered one of the foremost indicators of US consumer sentiment. The survey polls a smaller sample of consumers and is less established than the Conference Board Consumer Confidence Index.
Declining consumer confidence levels usually accompany any fall income or wages and precede drops in consumer spending. A low or falling U Mich Sentiment value is considered an early indicator of an economic downturn. As a result, investors, retailers and traders alike all watch the figure for insight into the general health of the economy. UMich figures have recently preceded turning in overall GDP.
The headline figure is calculated by subtracting the percentage of unfavorable replies from the percentage of favorable replies.
U. of Michigan Confidence (Preliminary)
Early assessment of consumer sentiment regarding personal finances, business conditions and purchasing power. This preliminary figure incorporates approximately 60% of responses that are included in the final figure, and is revised at the end of the month. The preliminary results are not intended for wide release but are regularly leaked to the press and often available to the financial community.
Relevance: Tends to move markets on release
Release schedule : 9:45 AM (EST); monthly, last Friday of the reporting month
Revisions schedule : Preliminary numbers are released on the second Friday of each month and revised Final figures on the last Friday of the month
Source of report : University of Michigan
Web Address : http://www.umich.edu/
Address of release : http://www.sca.isr.umich.edu/
AKA : Michigan Sentiment
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