2008 Economic Calendar
POWERED BY  econoday logo
U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar   |   

Consumer Sentiment  
Released On 10/17/2008 10:00:00 AM For Oct(p), 2008
PriorConsensusConsensus RangeActual
Sentiment Index - Level70.3 66.0 55.0  to 70.0 57.5 

Consumer spirits hit record lows early in the summer before firming, but the ongoing financial crisis is now pushing readings to yet deeper lows. The University of Michigan/Reuters consumer sentiment index plunged a record 12.8 points from September to a mid-month October reading of 57.5. The current conditions component, at 58.9, is at an all-time low. And these are data going back to the early 1950s. Inflation expectations edged upward to 4.5 percent for one-year expectations but were down 2 tenths to 2.8 percent for five-year expectations. Money moved out of the dollar and into Treasuries in reaction to the report.

Consensus Outlook
The Reuter's/University of Michigan's Consumer sentiment index in September managed to improve, coming in at a 70.3 reading, compared to 63.0 in August and a mid-month September reading of 73.1. Lower gasoline prices in most parts of the country likely played a role in the September improvement. Still, levels are relatively low. Recent turmoil in the financial markets likely has pulled sentiment back down.

Consumer sentiment Consensus Forecast for preliminary October 08: 66.0
Range: 55.0 to 70.0

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

powered by  [Econoday]