Tuesday , 24 December 2024
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University of Michigan consumer sentiment final 74.0 versus 74.0 preliminary

  • Prior month 71.8
  • consumer sentiment Index 74.0 versus 74.0 estimate 74.0 preliminary. Last month 71.8. Best reading since April
  • Current conditions 75.1 versus 77.7 preliminary and 63.9 last month. Best since April still.
  • Expectations 73.3 versus 71.6 preliminary and 76.9 last month.
  • One year inflation 2.8% versus 2.9% preliminary and 2.6% last month.
  • Five year inflation 3.0% versus 3.1% preliminary and 3.2% last month.

A summary of comments from Consumers Director Joanne Hsu

  • Consumer sentiment rose for the fifth consecutive month, reaching its highest level since April 2024.
  • Buying conditions improved by 32%, driven by expectations of future price increases for large purchases.
  • Expectations index showed:
    • Improvement among Republicans.
    • Decline among Democrats.
    • Stability among Independents.
  • Consumers recognize economic improvements as inflation slows but do not feel they are thriving.
  • Sentiment remains midway between the June 2022 all-time low and pre-pandemic levels.
  • Year-ahead inflation expectations increased to 2.8%, the first rise since May, but within pre-pandemic ranges (2.3%-3.0%).
  • Long-term inflation expectations declined slightly to 3.0%, modestly elevated compared to pre-pandemic levels.

The survey data can be politically influenced. Therefore not surprised to see the Republicans are on the up and up and the Democrats are on a decline. Independents are neither happier or sadder.

This article was written by Greg Michalowski at www.forexlive.com.

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