University of Michigan Consumer Sentiment Index

Consumer Sentiment Lowest Since 1980 - O RLY?

The University of Michigan Consumer Sentiment index hit a new low, 54.9. The headlines blare it's the lowest since 1980. That's true, the index hit 51.7 in May of 1980, but the reality is the index is only slightly lower than November 2008, when sentiment hit 55.3.


Consumer Sentiment August 2011


Reuters and the University of Michigan refuse to publicly release the data for the past 6 months. The below graph was reconstructed from digging around in press releases.

Consumer Confidence Nosedives in June 2010, down 9.8 points

The Consumer Confidence Index cliff dove 9.8 points in June.


From the Press release:

The Conference Board Consumer Confidence Index® which had been on the rise for three consecutive months, declined sharply in June. The Index now stands at 52.9 (1985=100), down from 62.7 in May. The Present Situation Index decreased to 25.5 from 29.8. The Expectations Index declined to 71.2 from 84.6 last month.

Those saying conditions are “good” decreased to 8.0 percent from 9.7 percent, while those saying business conditions are “bad” increased to 42.4 percent from 39.5 percent. Consumers’ assessment of the labor market was also less favorable. Those claiming jobs are “hard to get” increased to 44.8 percent from 43.9 percent, while those saying jobs are “plentiful” decreased to 4.3 percent from 4.6 percent.

Consumers’ short-term outlook, which had improved significantly last month, turned more pessimistic in June. Those anticipating an improvement in business conditions over the next six months decreased to 17.2 percent from 22.8 percent, while those expecting conditions will worsen rose to 14.9 percent from 11.9 percent.