2008 Economic Calendar
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Consumer Sentiment  
Released On 10/31/2008 10:00:00 AM For Oct(f), 2008
PriorConsensusConsensus RangeActual
Sentiment Index - Level57.5 57.5 54.0  to 63.0 57.6 

Highlights
The final October reading for the Reuters/University of Michigan consumer sentiment index, at 57.6, was little changed from the mid-month reading of 57.5 but is still deeply lower than the September reading of 70.3. The assessment of current conditions weakened the most in October, to 58.4 and very close to the expectations reading of 57.0. All readings are at or near record lows covering nearly 60 years of data. One-year inflation expectations eased substantially, down 6 tenths to 3.9 percent. Readings on inflation expectations have been all over the place the last month or so, reflecting price declines in gas but perhaps suspicions that declines won't hold. The stock market crash together with a contracting jobs market have pushed spirits to the lowest depth. There was no immediate reaction to the report.

Recent History Of This Indicator
The Reuter's/University of Michigan's Consumer sentiment index shows consumers being rattled by the sharp losses in the stock market and increased job losses as the 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.

Consumer sentiment Consensus Forecast for final October 08: 57.5
Range: 54.0 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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