2008 Economic Calendar
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Consumer Sentiment  
Released On 8/15/2008 10:00:00 AM For Aug(p), 2008
PriorConsensusConsensus RangeActual
Sentiment Index - Level61.2 62.0 60.0  to 69.0 61.7 

The good news in the Reuters/University of Michigan consumer sentiment report is that spirits aren't worsening and that inflation expectations are easing. The mid-month reading for consumer sentiment edged higher to 61.7 from July's 61.2 -- readings that are among the very lowest in 56 years of data. Current conditions fell nearly 4 points to 69.3 but this index was lower in June. Expectations rose more than 3 points to 56.8 for its least weak reading since March.

Inflation expectations offer the best news, falling 3 tenths from July to 4.8 percent for one-year out but holding steady at 3.2 percent five years out. Retail sales held steady in July and this report hints at stable results for August. Markets showed no reaction to the report.

Consensus Outlook
The Reuter's/University of Michigan's Consumer sentiment index improved in July, coming off record lows. The Reuters/University of Michigan consumer sentiment index jumped to 61.2, nearly 5 points higher than the June reading. Both the current conditions and the expectations indexes improved. Likely reflecting a recent dip in gasoline prices, one-year inflation expectations dipped to 5.1 percent with 5-year expectations also down at 3.2 percent.

Consumer sentiment Consensus Forecast for preliminary August 08: 62.0
Range: 60.0 to 69.0

The University of Michigan's Consumer Survey Center questions 600 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
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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