University of Michigan Sentiment Improves Again in October

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Economic Update: University of Michigan’s Consumer Sentiment Index

The preliminary October reading for the University of Michigan’s Consumer Sentiment Index surprised to the upside at 83.1, which was well above the consensus reading of 78.1 and the best level seen in the last 12 months.

Note that there are two reports for the Confidence Index each month: Preliminary and Final.

Last 12 months for comparison purposes:

• September: 78.3
  
• August: 74.3
  
• July: 72.3
  
• June: 73.2
  
• May: 79.3
  
• April: 76.4
  
• March: 76.2
  
• February: 75.3
  
• January: 75.0
  
• December: 69.9
  
• November: 64.1
  
• October: 60.9

The Current Conditions component was reported at 88.6, which was above last month’s 88.3 (August 88.7).

Finally, the twelve month Economic Outlook came in at 79.5, well above last month’s 74.3 (August 65.1).

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Other stories on the US Economy to review:

• PPI Headline Above Expectations; Core Rate Below
  
• NFIB: Small Business Optimism Holds Steady
  
• Jobs Report Shows Unemployment Rate Dives to 7.8% in September
  
• Factory Orders Pull Back As Expected in August
  
• Challenger: Planned Job Cuts Remain Near 21-month Low
  
• ISM Non-Manufacturing Index Improves in September, But...
  
• ADP Report Shows Job Market Improved Modestly in September
  
• ISM Manufacturing Returns to Expansion Mode in September
  
• University of Michigan Consumer Sentiment Improves in September
  
• Chicago PMI Dives Below 50 in September
  
• Personal Income and Spending a Mixed Bag in August
  
• Pending Home Sales Point To a Potential Problem
  
• GDP Growth Rate Revised Down Significantly in Q2
  
• Durable Goods Orders Plunged in August
  
• New Home Sales Steady in August
  
• Richmond Fed Index Surprises to the Upside
  
• Consumer Confidence Surges Higher in September
  
• Case-Shiller Home Price Index Improves for 3rd Straight Month
  
• Philly Fed Index Improves in Sept, But Weakness Persists
  
• LEI Dips in August
  
• Exsiting Home Sales Improve in August
  
• Housing Starts Up in August, Permits Lower
  
• Homebuilder Confidence Up Again in Sept
  
• Industrial Production, Capacity Utilization Decline in August
  
• Retail Sales Improve In August
  
• U.S. Productivity Improves, Labor Costs Steady

 

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