Consumer Confidence - US
UoM Consumer Sentiment US
Consumer Sentiment Keeps Improving in the US, But Let\'s See What Happens After Elections
Starts Friday, November 13, 2020 at 15:00
Updated Friday, November 13, 2020
The US consumer sentiment has been on a slowly declining trend. The UoM consumer confidence peaked above 100 in September. Although, in December it posted a steep decline of around 7 points, from 98.75 to 90.7 points. That might be a result of the US government shutdown which was the longest in history, leaving around 800,000 federal workers without a paycheck. Although, the confidence grew in February to 95.5 points, which was revised down to 93.8 points. Last month though, UoM consumer confidence jumped higher to 97.8 points from 93.8 points. But, it was revised lower to 96.0 points. In November, this indicator declined slightly to 95.7 points, but was revised higher last week to 96.8 points. In February though, this indicator jumped to 100.9 points and was revised higher to 101. Although, we saw a reversal to 95.9 points in the first reading for this month and it is expected to get worse, falling to 93.3 points. But in April this indicator fell to 71.0 points due to the lock-down and it only improved slightly to 72.3 points in May. It improved further to 78.1 points in June, but slowed in July and August. Although in September the sentiment picked up again to 80.4 points, while in October it increased further to 81.8%. Please follow us for live coverage of this event by experienced market analysts.
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About UoM Consumer Sentiment US
It's delivered by the University of Michigan. Consumer confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity. Survey of about 5,000 households which asks respondents to rate the relative level of current and future economic conditions including labor availability, business conditions, and overall economic situation. There are 2 versions of this data released 14 days apart – Preliminary and Revised. The Preliminary release is the earlier and thus tends to have the most impact.