2008 Economic Calendar
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Consumer Sentiment  
Released On 6/13/2008 10:00:00 AM For Jun(p), 2008
PriorConsensusConsensus RangeActual
Sentiment Index - Level59.8 59.8 55.0  to 63.0 56.7 

Highlights
Consumer spirits continue to sink, to 56.7 for the Reuters/University of Michigan sentiment index vs. 59.8 in May. All consumer readings across surveys are at or near record lows at the same time, and in a grim combination, that readings on inflation expectations are at record highs. This survey this time last month posted a numbing jump in expectations -- but the numbers since have not worsened. One-year inflation expectations slipped 1 tenth to 5.1 percent while 5-year expectations were unchanged at 3.4 percent.

Surveys on consumer confidence turn on the jobs market and on gas and food prices. Both areas are trouble for the consumer right now and there's plenty of risk that both areas will become more trouble in the months ahead. Retail sales, at least outside of vehicles, have held up nicely the past several months, but continued erosion in confidence suggests that spending will center more and more on basic goods. The dollar weakened and Treasury yields slipped in immediate reaction to the results.

Recent History Of This Indicator
The Reuter's/University of Michigan's Consumer sentiment index fell in May to 59.8 from April's 62.6. April's reading is at the series' lowest since the early 1980s. The latest report had bad news especially for the inflation sensitive Fed as the one-year inflation expectations reading came in at a high 5.2 percent -- a 4 tenths gain from April.

Consumer sentiment Consensus Forecast for preliminary May 08: 59.8
Range: 55.0 to 63.0

Definition
The University of Michigan's Consumer Survey Center questions 500 households each month on their financial conditions and attitudes about the economy. Consumer sentiment is directly related to the strength of consumer spending. Consumer confidence and consumer sentiment are two ways of talking about consumer attitudes. Among economic reports, consumer sentiment refers to the Michigan survey while consumer confidence refers to The Conference Board's survey. Preliminary estimates for a month are released at mid-month. Final estimates for a month are released near the end of the month.  Why Investors Care
 
[Chart]
Consumer sentiment is mainly affected by inflation and employment conditions. However, consumers are also impacted by current events such as bear & bull markets, geopolitical events such as war and terrorist attacks. Investors monitor consumer sentiment because it tends to have an impact on consumer spending over the long run (although not necessarily on a monthly basis.)
 
 

2008 Release Schedule
Released On: 1/182/12/152/293/143/284/114/255/165/306/136/277/117/258/15
Release For: JanJanFebFebMarMarAprAprMayMayJunJunJulJulAug
 
Released On: 8/299/129/2610/1710/3111/1411/2612/1212/23
Release For: AugSepSepOctOctNovNovDecDec
 


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