Michigan Says Consumer Expectations Up; Other Sources Say Not So Recently reported in USAToday, consumer sentiment rose more sharply than expected in early May, as Americans looked
ahead to better economic times, market sources said. A University of Michigan survey component index on consumers' current view on the economy fell to 94.1 in early May from April's 96.4, but the
index of consumers' future expectations jumped sharply to 92.7 from April's 79.3, the sources reported.
The University of Michigan survey ran counter to the most recent insights on consumer
confidence, which have shown sentiment reversing course and declining again as domestic economic concerns return to the fore. An ABC News/Money Magazine survey for the week to May 11 showed a third
straight drop in sentiment, while Investor's Business Daily and TechnoMetrica Market Intelligence said their monthly economic optimism index edged down 0.4% to 56.2 in May from 56.4 the prior month.
Consumer sentiment is seen as a predictor of consumer spending, which drives two-thirds of the U.S. economy.
You can find out more here.
advertisement
advertisement